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Although those indices are not meant for publication but as a checklist for editors, experienced officers, usually at Senior Information Officers level, are assigned to check them before dissemination.

I can assure members that every effort is made to ensure the accuracy of all press releases issued through the department for publication, be they government releases or announcements issued as service items. All copies are processed by experienced officers on behalf of other institutions. They are checked by proof- readers and cross checked by editors before release. Particularly sensitive and important press releases are referred to more senior officers, up to and including the Director.

End

Mortgage repayment terms

Following is a question by the Hon Sin Chung-kai, and a written reply by the Secretary for Financial Services, Mr Rafael Hui, in the Legislative Council today (Wednesday):

Question:

It is reported that some banks are offering 40-year mortgage loans to property buyers. In this connection, will the Government inform this Council whether:

(a)

(b)

(c)

(d)

the Government has laid down any guidelines on mortgage repayment terms offered by banks to property buyers; if so, of the longest mortgage repayment term at present; if not, of the longest mortgage repayment terms offered by banks in each of the past three years;

it has information on the longest mortgage repayment terms offered by banks to property buyers in countries like Britain, the United States and Japan;

the offering of a 40-year mortgage repayment term will increase the risks of banks; if so, what the risks are; if not, why not; and

the offering of a 40-year mortgage repayment term will give rise to more speculations on newly completed flats?