22/08/91
14:05
O.D. A LONDON
NO. 004
001
852 845 2789
this day's
2
1971
Keith Vaz Esq MP House of Commons LONDON SW1A OAA
David Du
Foreign & Commonwealth
Office
London SWIA 2AH
From The Minister of State
21 August 1991
Dear Keit
Thank you for your letter of 18 August to Douglas Hurd about your visit lo Hong Kong to discuss issues concerning the Bank of Credit and Commerce (Hong Kong) (BCC (HK)) with depositors there. I am replying in the absence of the Minister responsible for relations with Hong Kong.
You ask whether the Foreign Office is involved and whether the British Government has any views on possible bide to buy the Bank.
Regulation and supervision of the banking industry in Hong Kong arc matters for the Hong Kong Government. Hong Kong has long managed its own economic affairs: this is simply not something we could or would wish to do from London.
I understand that several groups have expressed interest in taking over the Bank and that the Hong Kong authorities are considering whether any of these represent viable and acceptable proposals.
I believe that Mr Carse, the Hong Kong Commissioner for Banking, has agreed to see you on Saturday, 24 August to explain the position. I hope you will find this useful.
Yours
Lynde
LYNDA CHALKER
77