XN000022-1990-05-31 — Page 9

THURSDAY, MAY 31, 1990

FOR HONG KONG BRANCHES OF OVERSEAS BANKS, WHERE CAPITAL ADEQUACY IS THE PRIMARY RESPONSIBILITY OF THE OVERSEAS SUPERVISOR, THE SUPERVISORY ARRANGEMENTS WILL BE LESS STRUCTURED. THE COMMISSIONER WILL MONITOR MANAGEMENTS' INTERNAL LIMITS AND, WHERE THE FIGURES SEEM UNDULY LARGE, REVIEW THESE WITH OVERSEAS HEAD OFFICES, AND IF NECESSARY WITH THE OVERSEAS SUPERVISORY AUTHORITIES.

AS PART OF THE CONSULTATIONS WITH THE INDUSTRY, THE COMMISSIONER'S OFFICE SURVEYED INSTITUTIONS INCORPORATED IN HONG KONG TO ASSESS WHAT LIMITS THEY REQUIRED IN ORDER TO MEET THEIR NORMAL OPERATIONAL NEEDS. THE SURVEY CONFIRMED THAT INSTITUTIONS' INTERNAL LIMITS GENERALLY FITTED WELL WITHIN THE GUIDELINES.

FOR MONITORING PURPOSE, INSTITUTIONS HAVE BEEN ASKED TO REPORT THEIR OPEN POSITIONS AS AT THE END OF EACH MONTH, INCLUDING DATES DURING THE MONTH ON WHICH THE GUIDELINE HAS BEEN EXCEEDED.

THE NEW ARRANGEMENTS FOR THE SUPERVISION RISK WILL BECOME OPERATIVE AS FROM JULY 1, 1990.

OF FOREIGN EXCHANGE

GOVT ATTACHES GREAT IMPORTANCE TO SIXTH FORM EDUCATION

THE GOVERNMENT ATTACHES GREAT IMPORTANCE ΤΟ SIXTH FORM EDUCATION AND THERE HAS BEEN MUCH CAREFUL PLANNING AND CONSIDERATION TO ENSURE THAT HONG KONG HAS A SCHEME THAT MEETS THE NEEDS OF BOTH THE INDIVIDUAL AND SOCIETY, THE SECRETARY FOR EDUCATION AND MANPOWER, MR K.Y. YEUNG, SAID THIS (THURSDAY) EVENING.

SCHOOL.

HE WAS OFFICIATING AT THE 12TH SPEECH DAY OF NG YUK SECONDARY

MR YEUNG SAID THE DEVELOPMENT OF SIXTH FORM EDUCATION HAD BEEN ONE OF THE MAJOR EDUCATIONAL CONTROVERSIES OVER THE LAST DECADE.

HE NOTED THAT AS RECOMMENDED IN THE SECOND REPORT OF THE EDUCATION COMMISSION, HONG KONG WAS NOW MOVING TOWARDS A SINGLE POINT OF ENTRY TO TERTIARY INSTITUTIONS, A CENTRALISED ADMISSIONS SYSTEM

то HIGHER EDUCATION, AND AN INTEGRATED SIXTH FORM CURRICULUM WITH A TWO-YEAR A LEVEL COURSE FOR ALL SCHOOLS, BOTH ANGLO-CHINESE AND CHINESE MIDDLE.

"AS PART OF THIS, BILINGUAL A LEVELS ARE AVAILABLE TO CATER FOR THE LATTER. H LEVELS IS BEING AROLISHED AND A NEW CURRICULUM, DERIVED FROM A LEVELS TO BE TERMED ADVANCED SUPPLEMENTARY (AS) LEVEL, IS TO BE INTRODUCED IN 1992,

HR SAID.

/"THE NEW