機密
the bank may maintain offices to which customers have access for the purpose of any business, including banking business, in only one building. In this context the word office includes any automated teller machine or similar terminal device which provides
facilities to customers of the bank;
the bank will become a member of the Hong Kong Association of Banks and thereafter, in accordance with and subject to the provisions of section 7(1) of the Hong Kong Association of Banks Ordinance, remain a member of the Association;
that the Council should retain discretion to refuse any such applications even though the criteria were satisfied.
3
When announcing the new policy in the Legislative Council on 27 May 1981, the then Financial Secretary stated that in considering each application the Council would have regard to the number of
of banks from the applicant bank's country of origin which already hold licences under the Banking Ordinance and would consider the present, and potential future, levels of bilateral trade and commercial relations between Hong Kong and the applicant's country.
Banking Ordinance
4
other
Each applicant has, in compliance with section 6(2) of the Ordinance, submitted a certified
a certified copy of its articles of incorporation.
Banca Commerciale Italiana (BCI)
5
BCI is one of
of the largest Italian banks, having total assets, net of contra items, equivalent to
to US$34.4 billion at the end of 1982. The bank is supervised by the Banca d'Italia, which has given BCI permission to apply for a Hong Kong licence.
6
As regards reciprocity, foreign banks may apply to operate in Italy; the Hongkong and Shanghai Banking Corporation has one branch there.
C.S. 166
CONFIDENTIAL
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