XN000022-1985-03-08 — Page 14

FHII. Y, MARCH 8, 1985

LIQUIDITY RATIO

THE AVERAGE LIQUIDITY RATIO (AS DEFINED IN S.18 OF THE BANK ING ORDINANCE) FOR ALL BANKS REMAINED VIRTUALLY UNCHANGED

THE AT 49.9 PER CENT COMPARED WITH 49.6 PER CENT IN DECEMBER. AVERAGE LIQUIDITY RATIO (AS DEFINED IN S.24A OF THE DEPOSIT-TAKING COMPANIES ORDINANCE) FOR ALL DEPOSIT-TAKING COMPANIES ROSE TO 48.3 PER CENT FROM 43.8 PER CENT A MONTH EARLIER.

NUMBER OF REPORTING INSTITUTIONS

THE NUMBER OF OPERATING LICENSED BANKS AND THE NUMBER OF OPERATING LICENSED DEPOSIT-TAKING COMPANIES BOTH REMAINED UNCHANGED, AT 140 AND 33 RESPECTIVELY. THE NUMBER OF REPORTING REGISTERED DEPOSIT-TAKING COMPANIES FELL TO 307.

TWO NEW MEMBERS FOR URBAN COUNCIL

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THE GOVERNOR HAS APPOINTED TWO NEW MEMBERS AND REAPPOINTED THREE SERVING MEMBERS TO THE URBAN COUNCIL FOR THREE YEARS FROM APRIL 1, 1985, A GOVERNMENT SPOKESMAN ANNOUNCED TODAY (FRIDAY).

THE TWO NEW MEMBERS ARE MR FAN KAM-PING, A SCHOOL PRINCIPAL AND MR MARVIN CHEUNG KIN-TUNG, AN ACCOUNTANT. SERVING MEMBERS REAPPOINTED TO THE COUNCIL ARE MR H.M.G. FORSGATE, MR STEPHEN LAU MAN-LUNG AND MR HOWARD YOUNG HOW-WAH.

MR FAN, AGED 40, IS THE PRINCIPAL OF THE CMA PREVOCATIONAL SCHOOL. HE IS AN APPOINTED MEMBER OF SHAM SHUI PO DISTRICT BOARD AND A MEMBER OF THE IMMIGRATION TRIBUNAL AND THE PANEL OF ASSESSORS. HE ALSO CHAIRS THE COMMUNITY BUILDING COMMITTEE OF THE SHAM SHUI PO DISTRICT BOARD AND THE SCHOOLS LIAISON COMMITTEE OF THE DISTRICT.

MR CHEUNG, AGED 38, WAS TRAINED AS A CHARTERED ACCOUNTANT IN UK AND IS NOW WITH THE ACCOUNTANT FIRM PEAT, MARWICK AND MITCHELL. HE IS A MEMBER OF THE TOWN PLANNING BOARD AND THE PANEL OF THE PERFORMING RIGHT TRIBUNAL, UNTIL APRIL 1984, HE ALSO SERVED ON THE CONSUMER COUNCIL.

IN ANNOUNCING THE APPOINTMENTS, THE GOVERNOR ALSO PAID

TPIBUTE TO TWO MEMBERS WHO WILL BE RETIRING, MR KENNETH T.C. LO AND MR SHUM CHOI-SANG FOR THE IR VALUABLE CONTRIBUTION TO THE COUNCIL.

+1 AM VERY GRATEFUL FOR THE TIME AND ENERGY THEY HAVE DEVOTED TO THE WORK OF THE COUNCIL OVER THE YEARS, AND THE EXPERIENCE THEY HAVE BROUGHT TO ITS DELIBERATIONS,+ SAID THE GOVERNOR.

MR LO WAS FIRST APPOINTED TO THE COUNCIL IN 1966 AND MR SHUM IN 1974.

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