XN000022-1987-03-19 — Page 27

THURSDAY, MARCH 19, 1987

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COMMISSIONER OF BANKING'S ANNUAL REPORT FOR 1986

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HONG KONG'S BANKING SECTOR HAD GENERALLY REACHED A PERIOD OF STABILITY AND CONSOLIDATION LAST YEAR AFTER A TROUBLED PERIOD A YEAR AGO, THE COMMISSIONER OF BANKING, MR ROBERT FELL, SAID IN HIS ANNUAL REPORT FOR 1986 PUBLISHED TODAY (THURSDAY).

THE REPORT, THE FIRST PREPARED SINCE THE NEW BANKING ORDINANCE WAS IMPLEMENTED IN SEPTEMBER LAST YEAR, WAS APPROVED BY THE GOVERNOR-IN-COUNCIL ON TUESDAY.

AT A PRESS CONFERENCE TODAY, MR FELL SAID: THE PROBLEMS OF 1985 WERE SOLVED AND THE MAIN OBJECTIVE AT THE BEGINNING OF 1986 OF MAINTAINING STABILITY WAS ACHIEVED. THE BANKING SCENE IS NOW STABLE AND PROFITABLE.

+AS A SIGN OF THE CONFIDENCE IN HONG KONG, BANKS CONTINUE TO SEEK ENTRY AND THE GOVERNOR-IN-COUNCIL HAS THIS WEEK AGREED TO A FURTHER THREE BANKS RECEIVING LICENCES - TWO ITALIAN AND JAPANESE,+ HE ADDED.

THE REPORT WAS MADE UNDER SECTION 9 OF THE BANKING ORDINANCE TO THE FINANCIAL SECRETARY WHO, IN ADDITION TO PRESENTING TO THE GOVERNOR-IN-COUNCIL, DISCUSSED IT WITH THE BANKING AND DEPOSIT-TAKING COMPANIES ADVISORY COMMITTEES.

IT CONSISTS OF FIVE PARTS COVERING THE FOLLOWING AREAS:

INTRODUCTION

* A BRIEF SUMMARY OF THE DEVELOPMENT OF SUPERVISION AND BANKING LEADING UP TO THE ENACTMENT OF THE BANKING ORDINACE, 1986.

THE INDUSTRY

*

THE MAKE-UP OF THE BANKING INDUSTRY IN HONG KONG.

* GENERAL STATISTICS INCLUDING GEOGRAPHICAL SPREAD OF

OWNERSHIP.

* NUMBERS, LOANS, DEPOSITS, ETC.

THE OFFICE OF THE COMMISSIONER

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ORGANISATION AND STAFF.

* QUALIFICATIONS AND TRAINING.

* COMPUTERISATION,

EVENTS IN 1986