XN000022-1991-11-01 — Page 14

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FRIDAY, NOVEMBER 1, 1991

MOVE BY OFFICE OF THE EXCHANGE FUND

KONG

AFTER THE ANNOUNCEMENT OF THE DECISION BY THE HONG ASSOCIATION OF BANKS (HKAB), REACHED AFTER THE USUAL CONSULTATION WITH THE FINANCIAL SECRETARY THROUGH THE SECRETARY FOR MONETARY AFFAIRS, TO CUT DEPOSIT INTEREST RATES BY HALF A PERCENTAGE POINT, THE OFFICE OF THE EXCHANGE FUND MOVED TO MOP UP EXCESS LIQUIDITY IN THE INTERBANK MARKET, REDUCING THE BALANCE OF HONGKONG BANK'S ACCOUNT WITH THE EXCHANGE FUND FROM HK$600 MILLION TO HK$500 MILLION.

WITH A LOT OF LIQUIDITY IN THE MARKET, INTERBANK RATES HAD REMAINED SOFT IN THE PAST WEEKS.

THEY FELL FURTHER DURING TODAY IN RESPONSE TO LOWER RATES IN THE UNITED STATES OVERNIGHT AND IN ANTICIPATION FOLLOWING THIS WITH A CUT IN HONG KONG DOLLAR DEPOSIT RATES.

INTEREST

FED FUND

OF

TO

HKAB

SEND

THE MOVE BY THE OFFICE OF THE EXCHANGE FUND WAS TIMED THE MESSAGE THAT THE CUT IN HKAB RATES WAS NOT TO BE SEEN AS A PRELUDE TO A FURTHER FALL IN INTEREST RATES.

CERTIFICATION SCHEME FOR CLUBS WITH CLUBHOUSES

*

1991 WHICH PROVIDES AND CONTROL

CLUBS FIRE AND STRUCTURAL SAFETY

OF

THE CLUBS (SAFETY OF PREMISES) ORDINANCE FOR A CERTIFICATION SCHEME FOR THE REGULATION WITH CLUBHOUSES BECOMES EFFECTIVE TODAY (FRIDAY).

IN

RESPECT

OF THEIR

CONTROL

THE ORDINANCE WAS PASSED BY THE LEGISLATIVE COUNCIL ON THIS YEAR TO ENABLE THE SECRETARY FOR HOME SYSTEMATIC AND COMPREHENSIVE STANDARDS OF CLUBHOUSES BUILDINGS ORDINANCE WHICH HAVE HITHERTO BEEN ENFORCED BASIS OR IN RESPONSE TO COMPLAINTS.

BY THE FIRE

JUNE 5

AFFAIRS TO ADMINISTER A SCHEME REGULATING THE SAFETY SERVICES ORDINANCE AND THE ON AN AD HOC

AND PUBLISHED IN TODAY'S

REGULATIONS SETTING OUT THE FEES PAYABLE FOR A CERTIFICATE PROCEDURES FOR APPEAL UNDER THE ORDINANCE WERE GAZETTE.

HOME AFFAIRS (BUILDING SCHEME WAS INSTALLED IN SEPTEMBER 11 LAST

THE PRINCIPAL ASSISTANT SECRETARY FOR MANAGEMENT), MR AUGUSTINE CHENG, SAID

THE VIEW OF THE FIRE AT A MAHJONG CLUB IN HUNG HOM ON YEAR, IN WHICH SIX PEOPLE WERE KILLED.

THEN

CONVENED

AN QUESTION OF HAZARDS

THE SECRETARY FOR HOME AFFAIRS INTER-DEPARTMENTAL WORKING GROUP TO DISCUSS THE POSED BY CLUBS AND TO WORK OUT THE MEASURES TO DEAL WITH SUCH HAZARDS.

/MR CHENG