TNAG-2125-FCO40-3032-Banking-situation-in-Hong-Kong-1990 — Page 37

Public Reaction

24

The public at large is unlikely to be interested in the proposal. However, given the established position of JF ✰ Co. and Wardley in the financial sector, considerable media interest is expected.

Publicity

25

their OWN press In addition to the

JF & Co. and Wardley will make announcements in Hong Kong and overseas. usual gazette notice, a press release will be issued to announce the decision. It will be explained that there has been zo change of policy with regard to the granting of banking licences, but that the developcent of financial markets is now such that local institutions act involved in retail banking are nonetheless capable of meeting the criteria for banking status.

Monetary

Affairs. of Banking,

(The

Mr D.A.C. NENDICK,

Secretary

and

fox

the Comissioner

Mr A.. NICOLLE, will attend for this item.)

21 February 1989

31 01

COUNCIL CHAMBER