XN000022-1986-07-18 — Page 11

FRIDAY, JULY 18, 1986

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U.S. MAKES FOURTH EA CALL *****

THE TRADE DEPARTMENT TODAY (FRIDAY) ANNOUNCED THAT THE UNITED STATES GOVERNMENT HAS MADE AN EXPORT AUTHOR ISATION (EA) CALL ON CATEGORY 611 (FABRICS, MAN-MADE FIBRE, SPUN CELLULOSIC, NOT KNIT).

THIS IS THE FOURTH EA CALL MADE BY THE UNITED STATES THIS

YEAR.

IN ACCORDANCE WITH THE HONG KONG-UNITED STATES BILATERAL TEXTILES AGREEMENT, THE DEPARTMENT HAS SUSPENDED ISSUE OF FURTHER EXPORT AUTHORISATIONS IN RESPECT OF THE CATEGORY WITH EFFECT FROM 3 PM YESTERDAY PENDING CONSULTATIONS WITH THE U.S. GOVERNMENT.

THE DEPARTMENT WILL CONTINUE TO APPROVE AND ISSUE EXPORT LICENCES FOR THIS CATEGORY AGAINST VALID EXPORT AUTHORISATIONS APPROVED PRIOR TO THE SUSPENSION.

BANKING LICENCE REVOKED ***

THE BANKING LICENCE OF CONTINENTAL ILLINOIS BANK LIMITED (CIBL) HAS BEEN REVOKED ON THE GROUND THAT IT HAS CEASED TO TRANSACT BANKING BUSINESS IN HONG KONG. A NOTICE TO THIS EFFECT WAS PUBLISHED IN THE GAZETTE TODAY (FRIDAY).

A GOVERNMENT SPOKESMAN EXPLAINED THAT UNDER THE BANKING ORDINANCE, THE GOVERNOR-IN-COUNCIL MAY REVOKE A BANKING LICENCE IF HE IS SATISFIED THAT THE HOLDER OF THE LICENCE HAS CEASED TO TRANSACT BANKING BUSINESS IN HONG KONG.

+ IN THE CASE OF CIBL, THE REVOCATION WAS REQUIRED AS ITS BUSINESS, INCLUDING ASSETS AND LIABILITIES, HAD BEEN TRANSFERRED TO THE CONTINENTAL ILLINOIS NATIONAL BANK AND TRUST COMPANY OF CHICAGO,+ HE SAID.

THE CONTINENTAL ILLINOIS NATIONAL BANK AND TRUST COMPANY OF CHICAGO WAS RECENTLY GRANTED A BANKING LICENCE TO CONDUCT BANKING BUSINESS IN HONG KONG,

AT THE END OF JUNE 1986, THERE WERE 151 LICENSED BANKS IN HONG KONG.

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