WEDNESDAY, MARCH 19, 1986
43
HE ALSO NOTED THE POPULARITY OF INTERNATIONAL BROADCASTING BY SATELLITE IN ADVANCED COUNTRIES AND THE OBVIOUS TREND OF A REVIVAL IN CABLE BROADCASTING ON A LOCALISED LEVEL.
+ALTHOUGH THESE TWO TYPES OF BROADCASTING HAVE NOT YET DEVELOPED IN HONG KONG, THE POSSIBILITY OF THEIR FUTURE DEVELOPMENT AND THE SOCIAL IMPACT WHICH THEY MAY BRING ABOUT SHOULD NOT BE OVERLOOKED,
+HENCE, IT IS NOT TOO EARLY FOR US TO MENTION THIS TODAY AS AN AIDE-MEMOIRE, DR TSE SAID.
MOVE TO PROMOTE BANKING STABILITY, PROTECT DEPOSITORS
*****
A BILL AIMED AT PROVIDING A MEASURE OF PROTECTION TO DEPOSITORS AND PROMOTING THE GENERAL STABILITY AND EFFECTIVE WORKING OF THE BANKING SYSTEM WAS INTRODUCED IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MOVING THE SECOND READING OF THE BANKING BILL 1986, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID THE BILL, WHEN ENACTED, WOULD REPLACE THE EXISTING BANKING AND DEPOSIT- TAKING COMPANIES ORDINANCE.
HE SAID THE MAIN NEW PROPOSALS IN THE BILL RELATED TO SIX AREAS, NAMELY THE COMMISSIONER OF BANKING'S ROLE, AUDIT, OWNERSHIP AND MANAGEMENT, RESTRICTION ON LOANS, CAPITAL TO RISK ASSETS RATIO, AND LIQUIDITY RATIO.
NOTING THAT THE COMMISSIONER OF BANKING WAS RESPONSIBLE AMONG OTHER DUTIES, FOR ENSURING THAT AUTHORISED INSTITUTIONŠ WERE OPERATED IN A RESPONSIBLE, HONEST AND BUSINESS-LIKE MANNER, SIR JOHN SAID HE WAS ALSO RESPONSIBLE TO PROMOTE AND ENCOURAGE PROPER STANDARDS OF CONDUCT AND SOUND BUSINESS PRACTICE AMONG THESE INSTITUTIONS.
+ IT IS NECESSARY TO SPELL OUT IN THE BILL THESE FUNCTIONS OF THE COMMISSIONER IN ORDER TO MAKE IT CLEAR THAT HIS ROLE IS GREATER THAN MERELY ONE OF CHECKING THAT THE INSTITUTIONS COMPLY WITH THE VARIOUS TECHNICAL REQUIREMENTS, HE SAID.
+THIS REFLECTS A DIFFERENT AND UP-TO-DATE EMPHASIS IN THE APPROACH TO PRUDENTIAL SUPERVISION - ONE THAT IS MORE FLEXIBLE AND RELIES MORE ON THE COMMISSIONER'S DISCRETION AND QUALITATIVE JUDGMENT THAN PREVIOUSLY.+
/NOTHING THAT .......
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