FRIDAY, MAY 2, 1986
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ADDITION OF NEW FUTURES CONTRACTS
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THE COMMODITIES TRADING (AMENDMENT OF FIRST SCHEDULE)
ORDER 1986 WAS PUBLISHED IN THE GAZETTE TODAY (FRIDAY), ANNOUNCING THE ADDING OF HANG SENG INDEX FUTURES CONTRACTS TO THE FIRST SCHEDULE OF THE COMMODITIES TRADING ORDINANCE (CHAPTER 250), THEREBY PERMITTING SUCH NEW CONTRACTS TO BE TRADED ON THE HONG KONG FUTURES EXCHANGE.
BANK OF YOKOHAMA GRANTED LICENCE
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THE BANK OF YOKOHAMA LIMITED HAS BEEN GRANTED A BANKING LICENCE TO CONDUCT BUSINESS IN HONG KONG. A NOTICE TO THIS EFFECT WAS PUBLISHED IN THE GAZETTE TODAY (FRIDAY).
INCORPORATED IN JAPAN IN 1920, THE BANK OF YOKOHAMA RANKS 24TH AMONG ALL JAPANESE BANKS AND HAS OVERSEAS PRESENCE IN EIGHT COUNTRIES OR TERRITORIES. WITH THE GRANT OF LICENCE TO THIS BANK, THERE ARE NOW 21 JAPANESE BANKS IN HONG KONG.
A SPOKESMAN FOR THE MONETARY AFFAIRS BRANCH SAID THAT THE CONTINUED ARRIVAL OF FOREIGN BANKS REFLECTED THE ATTRACTIVENESS OF HONG KONG AS A MAJOR INTERNATIONAL FINANCIAL CENTRE.
-APART FROM THE PRESENT APPLICATION, SIX FOREIGN BANKS, FOUR OF WHICH ARE FROM AUSTRALIA, HAVE ALREADY BEEN GRANTED BANKING LICENCES SINCE THE BEGINNING OF THE YEAR.
+THERE ARE AT PRESENT 151 LICENSED BANKS IN HONG KONG. AMONG THEM, 115 WERE INCORPORATED IN 23 DIFFERENT COUNTRIES OUTSIDE HONG KONG, THE SPOKESMAN SAID.
THE NUMBERS OF REGISTERED DEPOSIT-TAKING COMPANIES AND LICENSED DEPOSIT-TAKING COMPANIES STAND AT 273 AND 36 RESPECTIVELY. MORE THAN 25 PER CENT OF THESE COMPANIES ARE OWNED DIRECTLY OR INDIRECTLY BY FOREIGN FINANCIAL INSTITUTIONS.
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