XN000022-1990-04-03 — Page 5

TUESDAY, APRIL 3, 1990

EXCHANGE FUND BILLS MARKET "GULATION SUB-COMMITTEE FORMED

14

ON THE ADVICE OF THE MARKET COMMITTEE CONSISTING OF ALL THE

FUND BILLS, THE SECRETARY FOR MONETARY MARKET MAKERS OF EXCHANGE

CONSIDER AND AFFAIRS HAS FORMED A MARKET REGULATION SUB-COMMITTEE TO

IN EXCHANGE FUND GIVE ADVICE ON SPECIFIC REGULATIONS FOR THE MARKET BILLS, THE DEPUTY SECRETARY FOR MONETARY AFFIARS, MR JOSEPH YAM, TODAY (TUESDAY).

SAID

"THE

SUB-COMMITTEE

RECOGNISED DEALERS.

COMPRISES FOUR

MARKET

MAKERS

AND FOUR

AS RECOGNISED "IT WAS THE ADVICE OF THE MARKET COMMITTEE THAT

MARKET, THEY SHOULD ALSO DEALERS ALSO HAVE A CLOSE INTEREST IN THE

HE SAID. CONTRIBUTE TO THE MAKING OF MARKET REGULATIONS,

17

THE EIGHT MEMBERS OF THE MARKET REGULATION SUB-COMMITTEE ARE:

MARKET MAKERS:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED;

IBJ ASIA LIMITED;

MANUFACTURERS HANOVER ASIA LIMITED; AND

SCHRODERS ASIA LIMITED.

RECOGNISED DEALERS:

BANQUE NATIONALE DE PARIS;

BARCLAYS BANK PLC;

SANWA INTERNATIONAL FINANCE LIMITED; AND

WESTPAC FINANCE ASIA LIMITED.

THE SUB-COMMITTEE WILL BE CHAIRED BY MR YAM AND WILL FIRST MEETING IN THE NEXT FEW WEEKS.

COMMENTING ON THE ROLE INTENDED FOR THE SUB-COMMITTEE, SAID THE EXCHANGE FUND BILLS MARKET WAS A PROFESSIONAL MARKET WAS NOT NECESSARY TO HAVE A GREAT DEAL OF REGULATION.

THE SUB-COMMITTEE WOULD MEET AS AND WHEN THERE WAS

DO SO.

HOLD ITS

MR YAM AND IT

A

NEED TO

RECOMMENDATIONS OF

THE

SUB-COMMITTEE

WOULD

TO

THE

PUT BE SECRETARY FOR MONETARY AFFAIRS FOR DECISION, IF NECESSARY, THROUGH THE MARKET COMMITTEE, HE SAID.

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