WEDNESDAY, MAY 31, 1989
32
COMMISSIONER OF BANKING'S ANNUAL REPORT PUBLISHED
*
ITS CONSOLIDATED
POSITION
IN
REAL ECONOMY.
FOR
THE HONG KONG BANKING INDUSTRY 1988, IN LINE WITH A YEAR OF SUBSTANTIAL GROWTH IN THE THIS IS NOTED IN THE ANNUAL REPORT OF THE COMMISSIONER OF BANKING 1988 PUBLISHED TODAY (WEDNESDAY).
A SPEAKING AT RELEASED, THE COMMISSIONER OF
ATTRACTIVENESS OF CONTINUED UNABATED.
PRESS
HONG
AT WHICH CONFERENCE BANKING, MR TONY KONG AS A BASE FOR
THE REPORT SAID NICOLLE, INTERNATIONAL
WAS
THE
BANKS
+
TAKE A CRITICAL "BUT BOTH DOMESTIC AND FOREIGN BANKS NEED TO
IF THEY ARE STRUCTURES
TO MAINTAIN LOOK AT THEIR COST AND LABOUR
ON STATISTICS
EMPLOYEE PROFITABILITY, HE
ADDING THAT CAUTIONED,
THE FIRST TURNOVER IN THE BANKING SECTOR, INCLUDED IN THE REPORT FOR TIME, SHOWED HOW TIGHT THE DEMAND FOR LABOUR HAD BECOME.
FOR TO
BEEN NECESSARY MR NICOLLE SAID THAT, UNLIKE 1987, IT HAD
AFFORDED HIM BY
ORDINANCE THE BANKING HIM TO EXERCISE POWERS
DEPOSIT-TAKING COMPANIES INTERVENE IN THE AFFAIRS OF FOUR REGISTERED IN ORDER TO PROTECT THE INTERESTS OF DEPOSITORS.
"MY ACTIONS AROSE BECAUSE THE
HAD
FAILED
لى
INSTITUTIONS,
TO UNDERTAKE
DESPITE REPEATED CREDIT ADEQUATE RECORDS, AND TO
ADVICE TO THE CONTRARY, APPRAISAL BEFORE MAKING LOANS, TO MAINTAIN ADEQUATE MONITOR AND CONTROL EXPOSURES WITH ADEQUATE THOROUGHNESS,
OF HIS OFFICE ACTIONS THE HE ADDED THAT SATISFACTORY CONCLUSIONS TO THESE FOUR CASES.
THE COMMISSIONER SAID THE YEAR HAD SEEN IN HIS OFFICE'S APPROACH TO SUPERVISION.
"WE HAVE SOUGHT TO INTRODUCE A BROADER
ΤΟ BE PAID TO MORE ATTENTION
INSTITUTIONS' STRATEGIC DIRECTION," HE SAID.
+7
HE SAID.
HAD RESULTED
IN
A SIGNIFICANT CHANGE
'ALLOWS AND
APPROACH WHICH
PLANNING FUTURE
OF AN SEEKING
BOOKS INSTITUTION'S
THIS TO SUPPLEMENT
INFORMATION, AND
"ALTHOUGH THE ON-SITE EXAMINATION REMAINS CENTRAL TO OUR WORK, WE ARE NOW WITH OFF-SITE ANALYSIS OF STATISTICS AND MANAGEMENT WITH IN-DEPTH DISCUSSIONS WITH TOP MANAGEMENT OF INSTITUTIONS.
IT WILL PROVE OFFICE. BUT ALSO
"ONCE THIS APPROACH HAS BEDDED DOWN, I BELIEVE OF GREAT IMPORTANCE AND USEFULNESS, NOT ONLY TO MY TO ALL INSTITUTIONS," HE EXPLAINED.
MR NICOLLE SAID THE CAPITAL ADEQUACY
RATIO, PROVIDED FOR BY
THE BANKING ORDINANCE, HAD COME INTO FORCE ON SEPTEMBER 1, 1988,
IS
THE WITH
TO ASSIST MEAN THAT
RISKS IT
IN THE 19
OF THE RATIO
COMMENSURATE
PREVENTING AN INSTITUTION FROM OVERTRADING BY WHICH I
"ESSENTIALLY,
THE PURPOSE
INSTITUTION'S CAPITAL MUST
BE
UNDERTAKING."
/THE ORDINANCE