CONFIDENTIAL
Wing On Bank
Assisting in acquisition by Hang Seng Bank in 1986 through guaranteeing loan portfolio.
90
Union Bank
Hong Nin Bank
Assisting in acquisition by
Modern Concepts Ltd. in
1986 through provision of liquidity support.
Assisting in acquisition by First Pacific Holdings Limited in 1987 through provision of liquidity support.
total estimated cost:
Nil
Nil
XCC(93)140
4,295
less any surplus that may arise
from the OTB sale
18
In overall terms, the Administration considers that the costs incurred in these rescue operations were modest and represented money well spent to help ensure the stability of Hong Kong's banking sector and the monetary system during a critical period.
LEGISLATIVE TIMETABLE
19
Subject to Members' approval of the introduction of this Bill into the legislative Council, the legislative timetable will be
Executive Council