WEDNESDAY, AUGUST 19, 1987
5
GUIDELINES ON LOAN SYSTEMS ISSUED
THE COMMISSIONER OF BANKING ANNOUNCED (TODAY) THAT HE HAS ISSUED GUIDELINES FOR AUTHORISED INSTITUTIONS ON "LOAN APPROVALS, RECORDS AND PROVISIONS" IN ACCORDANCE WITH SECTIONS 7(2) (C) AND (D) OF THE BANKING ORDINANCE 1986.
THE PURPOSE OF THESE GUIDELINES IS TO DESCRIBE IN SIMPLE TERMS A MODEL OF THE BASIC SYSTEMS AND RECORDS NECESSARY IN BANKS AND DEPOSIT-TAKING COMPANIES FOR THE MAKING AND ACCOUNTING FOR LOANS ADEQUATE TO MEET THE NEEDS OF THE INSTITUTIONS THEMSELVES, OF THEIR INTERNAL AND EXTERNAL AUDITORS AND OF THE COMMISSIONER OF BANKING.
THE COMMISSIONER RECOGNISES THE FACT THAT MANY BANKS AND DEPOSIT-TAKING COMPANIES ALREADY HAVE COMPREHENSIVE SYSTEMS FOR LOAN APPROVALS, RECORDS AND PROVISIONS. THESE GUIDELINES ARE THEREFORE NOT MEANT IN ANY WAY TO DETRACT FROM THESE SYSTEMS; THEY ARE MEANT TO SUPPORT THE CHIEF EXECUTIVES OF ALL INŠTITUTIONS IN THEIR EFFORTS TO UPHOLD STANDARDS AND TO SERVE AS A STANDARD FOR THOSE INSTITUTIONS WHICH DO NOT HAVE SUCH SYSTEMS.
THE GUIDELINES ARE ISSUED IN AGREEMENT WITH THE HONG KONG SOCIETY OF ACCOUNTANTS AND AFTER CONSULTATION WITH THE BANKING ADVISORY COMMITTEE, THE DEPOSIT-TAKING COMPANIES ADVISORY COMMITTEE, THE HONG KONG ASSOCIATION OF BANKS AND THE HONG KONG DEPOSIT-TAKING COMPANIES ASSOCIATION.
JPC OBJECTIVE TO PROVIDE HEALTHY RECREATIVE, SIR DAVID
WAY
THE GOVERNOR, SIR DAVID WILSON, WAS IMPRESSED WITH THE JUNIOR POLICE CALL MEMBERS SPENT THEIR SUMMER HOLIDAYS WHEN HE VISITED THE JPC SUMMER CAMP AT THE CHINESE YMCA WU KWAI SRA YOUTH VILLAGE THIS (WEDNESDAY) MORNING.
ACCOMPANIED BY THE COMMISSIONER OF POLICE, MR RAYMON ANNING, AND THE CHIEF STAFF OFFICER/PUBLIC RELATIONS, MR JOIIN DUNN, THE GOVERNOR WAS GREETED ON ARRIVAL BY A JPC BAND AND 1,800 CAMPERS WHO I'ERFORMED A WORD DISPLAY AND MASS SINGING TO WELCOME THEIR PROMINENT VISITORS.
ADDRESSING THE YOUNG CAMPERS, SIR DAVID SAID: "I CAN THINK OF NOTHING BETTER THAN TO SPEND A FEW DAYS OUT HERE IN THE NEW TERRITORIES TAKING PART IN MANY ACTIVITIES WHICH HAVE BEEN ORGANISED FOR YOU.
/SIR DAVID