TNAG-1649-FCO40-2296-Hong-Kong-Commissioner-of-Banking-s-annual-report-for-1986--1987 — Page 62

The change from the old to the new reporting systems

has operated smoothly. This is evidence that banks

and deposit-taking companies have been considering the new requirements carefully with their profes-

sional advisers. The few institutions which failed

to meet the new liquidity ratio in the first month, September, immediately rectified their position and

it now appears that all banks and deposit-taking companies can comply with the new requirement.

35.

The former registry of deposit-taking

companies has been expanded to provide a complete

public register of all authorised institutions (banks, deposit-taking companies and representative

offices under the supervision of the Commissioner).

This register is open during business hours and is

much used.

36.

During the final stages of the enactment

of the Ordinance, the question was raised as to

whether there should be specific clauses dealing

with standards of conduct. The previous legislation

had a short clause dealing with the acceptance of

gifts, etc. in the course of business. The question

was raised too late for inclusion in the legislation and, in any case, it was decided that in the first

instance, codes of conduct were best administered by

the management of the institutions themselves although it would be necessary to have consistency

of treatment.

new Ordinance gives the

The

19