XN000022-1991-07-12 — Page 9

FRIDAY, JULY 12. 1991

ARE CONTINUING.

BANK "SERIOUS DISCUSSIONS ON A SALE OF THE CONTACT HAS BEEN MADE BY STAFF OF THE COMMISSIONER OF BANKING'S OFFICE BE RESPONSIBLE WITH THE RELEVANT AUTHORITIES IN LUXEMBOURG WHO WILL

WHICH IS BASED FOR THE LIQUIDATION OF THE BANK'S HOLDING COMPANY, THERE. FURTHER DISCUSSIONS ON A SALE ARE TAKING PLACE IN LONDON TODAY

AT THIS

IT IS TIME, IN ABU DHABI ON SUNDAY. AND MAY CONTINUE DIFFICULT TO TELL. WHETHER THERE WILL BE A SUCCESSFUL OUTCOME.

SIR PIERS SAID THAT MEMBERS OF THE COMMISSIONER'S BEEN TN PLACE IN BOCHK SINCE MONDAY, ACCOMPANIED PRICE WATERHOUSE AND THE HONG KONG AND SHANGHAI

гг

STAFF HAVE BY ADVISERS FROM BANKING CORPORATION BANK AND TO LTD. THE AIM HAS BEEN TO SAFEGUARD THE ASSETS OF THE

SOME $750 MILLION BRING BACK TO HONG KONG ASSETS HELD OVERSEAS. SUCH ASSETS HAVE ALREADY BEEN RETURNED.

OBTAIN NOT

OF

ΤΟ

ARRANGEMENTS HAVE BEEN MADE TO ENABLE CUSTOMERS OF THE BANK

HAVE TRADE DOCUMENTS LODGED WITH THE BANK WHERE THE DOCUMENTS

A HOT LINE HAS BEEN YET BEEN PROCESSED AND ARE NOT ENCUMBERED.

FROM THOSE SET UP IN THE COMMISSIONER'S OFFICE TO ANSWER QUESTIONS

OFFICE HOURS. THE AFFECTED BY THE SUSPENSION OF THE BANK DURING NUMBERS ARE 867 2671, 867 2677 AND 867 3420.

DURING HIS DISCUSSIONS WITH MEMBERS OF THE LEGISLATIVE COUNCIL,

FOR SECRETARY ACTING BY THE

SIR PIERS WAS ACCOMPANIED AFFAIRS, MR. JOSEPH YAM AND THE COMMISSIONER OF BANKING, CARSE.

MONETARY MR. DAVID

DIRECT LINES TO TAKE BCCHE CUSTOMERS' ENQUIRIES

BANK

OF

TO ASSIST IN TAKING ENQUIRIES FROM CUSTOMERS OF THE CREDIT AND COMMERCE HONG KONG LIMITED (BCCHK), THREE DIRECT LINES HAVE BEEN SET UP IN THE OFFICE OF THE COMMISSIONER OF BANKING.

THE DIRECT LINES ARE MANNED DURING OFFICE HOURS. ARE 867 2674, 867 2677, AND 867 3420.

THE NUMBERS

то CUSTOMERS FOR

HELD WITH

NOW IN PLACE ARE ARRANGEMENTS MEANWHILE, APPROACH BCCHK FOR THE RELEASE OF IMPORT/EXPORT DOCUMENTS THE BANK, PROVIDED THAT THEY HAVE NOT YET BEEN PROCESSED AND ARE ENCUMBERED.

WISH TO HAVE

DOCUMENTS THOSE

RELEASED WHO CUSTOMERS REQUESTED TO MAKE APPOINTMENTS BY PHONE WITH THE RELEVANT BRANCHES OFFICES OF THE BANK.

NOT

ARE

OR

ALSO GIVEN

HAS BANKING THE OFFICE OF THE COMMISSIONER OF GUIDANCE TO THE STAFF OF BCCHK FOR THE PROCESSING OF THE TRADE FINANCE TRANSACTIONS.

A LETTER SETTING OUT THE RELEVANT GUIDANCE WILL BE

FACILITATE THE HONG KONG ASSOCIATION OF BANKS TO BANKS' HANDLING OF THESE TRANSACTIONS.

то

ISSUED THE COUNTERPARTY

0