-
18.
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•
"To get things moving, we have commissioned a number of pilot studies that will test different types of improvements service-wide, departmentally and on a project basis," Mr Kwong said.
"We have set ourselves a fairly ambitious target of completing the pilot studies over the next six months. Where we go from there will depend very much on the results.
"I am hoping it will lead to our widening the range of studies and ultimately to integration of the concepts and ideas into the daily management process of Government departments"
End
IBCA and JBRI ratings for LAF purpose recognised
The Hong Kong Monetary Authority (HKMA) today (Friday) announced that the ratings of IBCA and the Japan Bond Research Institute (JBRI) will be recognised by HKMA in assessing the eligibility of Hong Kong dollar denominated debt issues as Repo securities for discounting under LAF with immediate effect.
The minimum requirements in respect of the ratings assigned by IBCA and JBRI for LAF purpose for the time being are as follows:
IBCA
JBRI
Debt instruments issued by:
Banks
Non-bank issuers
A-
A+
A
AA-
HKMA reserves the right to make adjustments to the above minimum rating requirements from time to time.
Previously only the ratings of the S&P's and Moody's were recognised for LAF purpose. IBCA is a London-based rating agency set up in 1978. JBRI, which is based in Tokyo, was established in 1979.
End