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FRIDAY, OCTOBER 3, 1980
FOREIGN ASSETS
THE NET IDENTIFIABLE FOREIGN ASSETS OF ALL BANKS FELL IN AUGUST BY $5 MILLION, AND THOSE OF DEPOSIT-TAKING COMPANIES ALSO FELL BY $5 MILLION INDICATING AN OUTFLOW OF $10 MILLION_FROM THE HONG KONG MONETARY SECTOR COMPARED WITH AN INFLOW OF
$26 MILLION IN JULY.
BALANCE SHEET RATIOS
THE AVERAGE LIQUIDITY RATIO FOR ALL BANKS IN HONG KONG DECLINED IN AUGUST TO 48.6 PER CENT FROM 49.3 PER CENT IN JULY. THE LOAN/DEPOSIT RATIO, HOWEVER, ROSE TO 90.3 PER CENT AT THE END OF AUGUST, FROM 89.0 PER CENT AT THE END OF JULY, REFLECTING THE SHARP RISE IN BANK LOANS IN THE MONTH.
THE AVERAGE LIQUIDITY RATIO FOR ALL DEPOSIT-TAKING COMPANIES ROSE SLIGHTLY TO 46.4 PER CENT IN AUGUST FROM 46.2 PER CENT IN JULY. THE LOAN/DEPOSIT RATIO FELL TO 79.4 PER CENT AT THE END OF AUGUST FROM 80.3 PER CENT AT THE END OF JULY.
NUMBER OF REPORTING INSTITUTIONS
THE NUMBER OF REPORTING BANKS WAS UNCHANGED IN AUGUST AT 113. THE NUMBER OF REPORTING DEPOSIT-TAKING COMPANIES ROSE BY ANOTHER FOUR TO 294 AT THE END OF THE MONTH.
TRIBUTE TO RETIRING SOCIAL WELFARE DIRECTOR
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THE DIRECTOR OF SOCIAL WELFARE, MR THOMAS LEE IS RETIRING LATER THIS MONTH AFTER 28 YEARS OF SERVICE WITH THE GOVERNMENT.
HE IS THE FIRST PROFESSIONAL SOCIAL WORKER APPOINTED TO HEAD THE SOCIAL WELFARE DEPARTMENT AND HAS BEEN ITS DIRECTOR SINCE 1974.
MR LEE BEGAN HIS CAREER IN SOCIAL WELFARE WITH THE GOVERNMENT EVEN BEFORE THE DEPARTMENT CAME INTO BEING.
HE JOINED IN 1952 THE THEN SOCIAL WELFARE OFFICE OF THE OLD SECRETARIAT FOR CHINESE AFFAIRS AS AN ASSISTANT PROBATION OFFICER. THE OFFICE BECAME A FULL-FLEDGED MAJOR DEPARTMENT IN 1958.
IN 1959, MR LEE WAS PROMOTED TO SOCIAL WELFARE OFFICER AND IN 1967 TO SENIOR PRINCIPAL SOCIAL WELFARE OFFICER. THREE YEARS LATER, HE WAS APPONTED ASSISTANT DIRECTOR AND PROMOTED TO DEPUTY DIRECTOR THE FOLLOWING YEAR.
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