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PS/Lord Caithness
12/9.
FROM:
DATE:
UMB 1023
T Fu
Furness
Hong Kong Department
11 September 1991
51
cc:
Mr Burns
Mr Ricketts, HKD
Mr Bone, ERD
BANK OF CREDIT AND COMMERCE (HONG KONG) LTD:
LETTER FROM BCC DEPOSITORS COMMITTEE
A
Problem
1.
The "BCC Depositors Committee" wrote to Lord Caithness
on 22 July complaining about the Hong Kong Government's handling of the BCC (HK) crisis, demanding a public enquiry, and seeking extra effort for the the option of a depositors buy-out. How to reply?
Recommendation
2. I recommend a standard departmental reply, on the lines
of the attached draft.
Background
3.
The BCC (HK) affair is a matter for the Hong Kong Government. This letter has only recently arrived and it is out-of-date and inaccurate on several counts. The Hong Kong Government stated their position on a public enquiry on 31 July and made public the report by the Commissioner of Banking to the Governor on 9 August.
BRIAFM/1
TG
WV deners.
T Furness