1987 Ed.]
Banking
[CAP. 155
113
(b) any contingent liability that in the opinion of the Commissioner may result in a reduction within 1 month of the liquefiable assets of that institution or relevant bank.
2. The liquidity ratio of an authorized institution shall be calculated as the ratio, expressed as a percentage, between its liquefiable assets, as specified in paragraph 3 and its qualifying liabilities, as specified in paragraph 4.
3. The liquefiable assets of an authorized institution shall be the sum, calculated in Hong Kong dollars, of such of the following amounts which are free from encumbrances and freely remittable and payable— (Amended, L.N. 413/87)
(a) the amount, if any, by which its total one-month liabilities to relevant banks are exceeded by the total one-month liabilities of relevant banks to it;
(b) currency notes and coins held by the institution in Hong Kong dollars or in any currency freely convertible into Hong Kong dollars;
(c) repayments to the institution in respect of loans that the institution is not committed to continue, whether by renewal or otherwise, being repayments— (Amended, L.N. 413(87))
(i) which will fall due within 1 month;
(ii) in respect of which the institution has no reason to expect any default; and
(iii) which are not otherwise taken into account in calculating the liquefiable assets of the institution;
(d) the amounts that the institution can realize within 1 month (after deduction of the costs of such realization) for such of its following assets as are available to meet any or all of its qualifying liabilities—
(i) export bills maturing within 6 months, or payable after sight, and discountable in Hong Kong dollars or in a currency freely convertible into Hong Kong dollars;
(ii) securities that were issued, or are the subject of any guarantee or indemnity given, by the Government or by any government approved by the Commissioner for the purposes of this sub-paragraph;
(iii) other bills, certificates, notes, paper or debt securities which—
(A) are negotiable;
(B) have a remaining term to maturity of not more than 10 years; and
(C) are denominated and traded in Hong Kong dollars or in a currency freely convertible into Hong Kong dollars,
except for any that are issued by a person or government specified for the purposes of this sub-paragraph by the Commissioner by notice in writing served upon the authorized institution;
(iv) gold,
4. The qualifying liabilities of an authorized institution shall be the sum, calculated in Hong Kong dollars, of
(a) the amount, if any, by which the total one-month liabilities of relevant banks to the authorized institution are exceeded by its total one-month liabilities to relevant banks; and (Amended, L.N. 413/87)
(b) the total of its other one-month liabilities.
1.
Issuer
Bank of Scotland
2. Barclays
FIFTH SCHEDULE
PERPETUAL SUBORDINATED DEBT
Month of issue
November 1985
June 1985
[ss. 2(1) & 135(4).)
Amount of issue
US$250 millions
Short title of issue
Undated floating rate primary capital notes.
US$600 millions
Undated floating rate primary capital notes.