XN000022-1993-05-07 — Page 6

FRIDAY, MAY 7, 1993

THE DRAFT MAP IS ALSO AVAILABLE FOR INSPECTION ENQUIRY SERVICES CENTRES OF THE 19

FISHERIES DEPARTMENT, GOVERNMENT OFFICES, 393 CANTON ROAD, KOWLOON.

AGRICULTURE

AND

AT THE PUBLIC THE AND DISTRICT OFFICES

ROAD 12TH

CANTON FLOOR,

AT $20

BACH FROM THE

DRAFT

MAP MAY SEND COUNTRY PARKS

IN THEIR AUTHORITY

COPIES OF THE MAP ARE ALSO OBTAINABLE AGRICULTURE AND FISHERIES DEPARTMENT.

BY THE

ANY PRRSON AGGRIEVED OBJECTIONS IN WRITING WITHIN 60 DAYS TO THE

OF AND TO THE SECRETARY OF THE COUNTRY PARKS BOARD STATING THE NATURE

AND ANY PROPOSED AND REASONS FOR THE OBJECT LON

ALTERATION IF THE OBJECTION COULD BE REMOVED BY AN ALTERATION TO THE DRAFT MAP.

TO

HKMA CONSULTS BANKING SECTOR ON BASLE COMMITTEE'S PROPOSALS

* * * * *

THE HONG KONG MONETARY AUTHORITY HAS NOT TAKEN ANY DECISION AS WHEN OR HOW THE SUPERVISORY PROPOSALS PUT FORWARD BY THE BASLE COMMITTEE ON BANKING SUPERVISION WILL BE INTRODUCED IN HONG KONG, THE DEPUTY CHIEF EXECUTIVE OF THE MONETARY AUTHORITY, MR DAVID CARSE, SAID TODAY (FRIDAY).

"THE CONSULTATIVE PAPERS ON NETTING, MARKET RISKS AND INTEREST RATE RISKS BY THE BASLE COMMITTER REPRESENT A FURTHER STEP IN STRENGTHENING THE INTERNATIONAL FRAMEWORK OF BANKING SUPERVISION, HE

SAID.

11

"THE FIRST STEP IS TO GIVE AUTHORISED INSTITUTIONS AND IN HONG KONG THE CHANCE TO PARTICIPATE IN THE INTERNATIONAL CONSULTATION EXERCISE BEING UNDERTAKEN BY THE BASLE COMMITTEE," HE SAID.

+

FOLLOWING THE ISSUE OF CONSULTATIVE PAPERS, THE HONG RONG MONETARY AUTHORITY HAS WRITTEN TO THE SECURITIES AND FUTURES COMMISSION, HONG KONG ASSOCIATION OF BANKS, THE DEPOSIT TAKING COMPANIES ASSOCIATION AND THE HONG KONG CAPITAL MARKETS ASSOCIATION INVITING THEIR COMMENTS ON THE SUPERVISORY PROPOSALS.

DUE то THE COMPLEXITY OF THE PROPOSALS, THE VARIOUS PARTIES BEING CONSULTED HAVE BEEN GIVEN UNTIL THE END OF OCTOBER 1993 ΤΟ COMMENT ON THE PROPOSALS.

"THE HONG KONG MONETARY AUTHORITY WOULD THEN CONSOLIDATE THESE COMMENTS AND SUBMIT THEM TO THE BASLE COMMITTEE BY THE END OF THIS YEAR, MR CARSE SAID.

THE FIRST PROPOSAL CONCERNS LIBERALISATION OF THE TERMS OF THE 1988 BASLE CAPITAL ACCORD AS THEY APPLY TO THE USE OF BILATERAL NETTING IN THE MEASUREMENT OF CREDIT RISK ASSOCIATED WITH CERTAIN CLASSES OF OFF-BALANCE SHEET FINANCIAL INSTRUMENTS SUCH AS INTEREST RATE SWAPS

AND FOREIGN EXCHANGE CONTRACTS.

/IN ADDITION,