TNAG-2245-FCO40-3228-Bank-of-Credit-and-Commerce-Hong-Kong-Limited-(BCCHK)-1991 — Page 143

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Esq

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ye Keith Vaza MP

してて18

date

FTS

Tomnownow

House of Commons

London

SW1A OAA

me absenu

I am replying in Doub

as me

me Minister Nesponsible for

Hong Kong.

řelarious with

to Dongles Havel

Thank you for your letter of 18 August about your

visit to Hong Kong to discuss issues concerning the Bank

of Credit and Commerce (Hong Kong) (BCC (HK)) with depositors there.

/you

ou ask whether the Foreign Office is

involved and whether the British Government has any views

on possible bids to buy the Bank.

Regulation and supervision of the banking industry

Re in Hong Kong is a matters for the Hong Kong Government. Hong Kong has long managed its own economic affairs: this

is simply not something we could or would wish to do from

London.

I understand that several groups have expressed interest in taking over the bank and that the Hong Kong authorities are considering whether any of these represent viable and acceptable proposals.

I believe that Mr Carge, the Hong Kong Commissioner for Banking, has agreed to see you on Saturday 24 August to explain the position. I hope you will find this

useful.

Douglas Hogg Lynda Chalker

BARAFS