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FRIDAY, FEBRUARY 4, 1994
POUR SAFETY RECOMMENDATIONS HAVE BEEN MADE IN THE REPORT ALL RELATING TO THE DUTIES OF OPERATORS TO ENSURE ADHERENCE TO SAFETY REQUIREMENTS.
IN ADDITION, THE REPORT REVEALED THAT THERE WAS NO EVIDENCE OF THE HELICOPTER HAVING ANY PRE-EXISTING DEFECT WHICH COULD HAVE CONTRIBUTED TO THE ACCIDENT.
U.S. BANK GRANTED LICENCE
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A GOVERNMENT SPOKESMAN SAID TODAY (FRIDAY) THAT STATE STREET BANK AND TRUST COMPANY (SSBTC) HAD BEEN GRANTED A BANKING LICENCE ΤΟ CONDUCT BUSINESS IN HONG KONG.
SSBTC IS THE 40TH LARGEST BANK IN THE USA AND 272ND IN THE WORLD IN TERMS OF CAPITAL.
IT IS A SPECIALIST BANK WHICH CONCENTRATES ON GLOBAL CUSTODY, MUTUAL FUND, ASSET MANAGEMENT AND TRUSTEE BUSINESS.
THE INSTITUTION'S PRESENCE IN DEPOSIT-TAKING COMPANY IN SEPTEMBER 1981 LTD (SSAL).
HONG KONG BEGAN AS A THROUGH STATE STREET ASIA
IN SEPTEMBER 1988, SSAL BECAME A RESTRICTED LICENCE BANK.
TRANSFERRED
IN
THE RESTRICTED BANKING LICENCE OF SSAL WAS AUGUST 1990 TO ITS PARENT BANK, SSBTC, TO ENABLE THE RESTRICTED LICENCE BANK TO BE OPERATED IN BRANCH FORM.
IN
THE SPOKESMAN SAID THE CONTINUING INTEREST OF FOREIGN BANKS ENTERING THE LOCAL MARKET REFLECTED HONG KONG'S CONTINUED IMPORTANCE AND ATTRACTIVENESS AS A MAJOR INTERNATIONAL FINANCIAL CENTRE.
THE LICENCE FOR SSBTC IS THE FIRST BANKING LICENCE GRANTED THIS YEAR.
THERE ARE NOW 173 LICENSED BANKS IN HONG ARE INCORPORATED OUTSIDE THE TERRITORY.
KONG, OF WHICH 141
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