25
WEDNESDAY, NOVEMBER 24, 1993
OF THOSE THAT ARE INHABITED, HE SAID, NINE HAVE WATER SUPPLY PROVIDED BY THE WATER SUPPLIES DEPARTMENT AND 19 HAVE ELECTRICITY SUPPLY PROVIDED BY THE POWER COMPANIES.
SOME ISLANDS HAVE OTHER SOURCES OF WATER AND ELECTRICITY SUPPLY SUCH AS WELLS AND INDIVIDUALLY OWNED DIESEL GENERATORS.
-
MEASURES TO REGULATE DERIVATIVE INSTRUMENTS
THE
SECURITIES
PROTECTION
INSTRUMENTS.
AND,
GOVERNMENT IS CONSIDERING AN ATTEMPT AND FUTURES-RELATED LAWS WITH A VIEW
REGARDING THE ISSUANCE AND TRADING
то
TO RATIONALISE
INTRODUCE MORE OF DERIVATIVE
AMENDMENTS TO THE SECURITIES (INSIDER DEALING) ARE BEING CONSIDERED TO COVER DERIVATIVE PRODUCTS SUCH OPTIONS, THIRD PARTY ISSUED WARRANTS AND DEPOSITORY RECEIPTS.
ORDINANCE STOCK
AS
FINANCIAL
THE MOVES WERE OUTLINED BY THE ACTING SECRETARY FOR SERVICES, MR TAM WING-PONG, IN A WRITTEN REPLY TO A QUESTION BY DR THE HON HUANG CHEN-YA IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
ON THE BANKING SIDE, MR TAM SAID THERE WERE ALREADY GUIDELINES AND SUPERVISORY PROVISIONS ON THE REGULATION OF CREDIT RISK, CURRENCY RISK AND SYSTEM RISK ARISING FROM INTEREST RATE AND EXCHANGE RATE DERIVATIVE TRANSACTIONS.
THE BASLE COMMITTEE ON BANKING SUPERVISION ISSUED CONSULTATIVE PAPERS ON THE SUPERVISION OF INTEREST RATE RISK MARKET RISK ON TRADING IN ON- AND OFF-BALANCE SHEET PRODUCTS.
THE HONG KONG MONETARY AUTHORITY HAS SURVEYS IN RESPECT OF AUTHORISED INSTITUTIONS.
AFTER THAT,
CONSIDERATION WILL BE GIVEN ΤΟ GUIDELINES OR THE BANKING ORDINANCE IS COMMITTEE'S RECOMMENDATIONS ARE FINALISED.
WILL
TWO
AND
CONDUCTED
WHETHER CHANGES ΤΟ ITS REQUIRED WHEN THE BASLE
"WHEN ALL THE MEASURES ARE IN PLACE, THE REGULATORY AUTHORITIES KEEP THEM UNDER REVIEW SO AS TO KEEP ABREAST WITH MARKET DEVELOPMENT, *
MR TAM SAID.
AMONG FINANCIAL DERIVATIVE PRODUCTS TRADED AT THE HONG KONG FUTURES EXCHANGE (HKFE), THE HANG SENG INDEX FUTURES AND OPTIONS ARE ACTIVELY TRADED.
BEFORE THE TRADING OF HENG SENG INDEX OPTIONS STARTED, THE HKFE HAD INTRODUCED NEW RULES AND REGULATIONS WHICH SUPPLEMENTED RULES RELATING TO FUTURES CONTRACTS.
MR TAM SAID THESE RULES AND REGULATIONS WERE APPROVED SECURITIES AND FUTURES COMMISSION.
BY THE
"SIMILAR RULES, REGULATIONS AND RISK MANAGEMENT MEASURES WILL BE REQUIRED BEFORE THE STOCK EXCHANGE OF HONG KONG LTD INTRODUCES STOCK OPTIONS," HE SAID.
/THESE RULES