THURSDAY, OCTOBER 1, 1992
"THAT IS WHY CONSULTATION ON ENHANCEMENTS TO THE SUPERVISORY FRAMEWORK WILL CONTINUE TO BE AN ESSENTIAL PART OF OUR SUPERVISORY APPROACH," MR MACLEOD SAID.
HE POINTED OUT THAT HONG KONG HAD ONE OF THE GREATEST CONCENTRATIONS OF FOREIGN BANKS IN ASIA-PACIFIC.
"OF THE WORLD'S TOP 100 BANKS IN TERMS OF ASSETS, 83 ARR ALREADY HERE. AND A SIGNIFICANT PROPORTION OF FOREIGN BANKS HAVE THEIR REGIONAL HEADQUARTERS BASED IN HONG KONG.
"WE ARE NOW A MAJOR CAPITAL EXPORTING CENTRE IN ASIA. OVER 60 PER CENT OF THE LOCAL BANKING SECTOR'S AGGREGATE ASSETS AND LIABILITIES ARE EXTERNAL, INVOLVING TRANSACTIONS WITH SOME 130 COUNTRIES.
"WE HAVE ESTABLISHED OURSELVES AS AN INTERNATIONAL CENTRE FOR LOAN SYNDICATION. AMONGST THE TOTAL SYNDICATED LOANS ARRANGED FOR ASIAN BORROWERS IN THE FAR EAST LAST YEAR, HONG KONG ENTITIES RANKED ONLY AFTER JAPAN.
"INDEED, OVER 90 PER CENT OF CHINA'S EXTERNAL SYNDICATED LOANS LAST YEAR WERE BELIEVED TO BE ARRANGED HERE.
HE SAID THE OPENING OF THE CITIBANK PLAZA, THE NEW HEADQUARTERS FOR THE CITIBANK, REFLECTED NOT ONLY THE GROWTH OF THE BANK ITSELF BUT ALSO SYMBOLISED THE BANK'S CONTINUING COMMITMENT TO, AND CONFIDENCE IN, HONG KONG.
"IT IS ALSO SYMBOLIC OF THE THRIVING ECONOMIC LINKS BETWEEN HONG KONG AND THE UNITED STATES," HE SAID.
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GUIDELINES ON QUESTIONING OF SUSPECTS TAKE EFFECT
AND FINANCIAL
A NEW SET OF GUIDELINES FOR LAW ENFORCEMENT OFFICERS TO FOLLOW WHEN QUESTIONING SUSPECTS AND TAKING STATEMENTS CAME INTO EFFECT TODAY (THURSDAY).
ROYAL
GOVERNMENT SPOKESMAN SAID LAW ENFORCEMENT OFFICERS IN THE HONG KONG POLICE FORCE, THE CUSTOMS AND EXCISE DEPARTMENT, THE IMMIGRATION DEPARTMENT AND THE INDEPENDENT COMMISSION AGAINST CORRUPTION HAD UNDERGONE TRAINING IN THE PAST FEW MONTHS TO ENSURE THAT THEY UNDERSTOOD AND WOULD FOLLOW THESE GUIDELINES.
THE GUIDELINES ARE KNOWN AS "RULES AND DIRECTIONS FOR THE QUESTIONING OF SUSPECTS AND THE TAKING OF STATEMENTS".
ARE
"THE PRIMARY AIM OF SUCH RULES AND DIRECTIONS WAS TO ENSURE THAT WRITTEN STATEMENTS AND ORAL ANSWERS OBTAINED FROM SUSPECTS VOLUNTARILY GIVEN AND ADMISSIBLE IN EVIDENCE," HE SAID.
/THE RULES