TNAG-2245-FCO40-3228-Bank-of-Credit-and-Commerce-Hong-Kong-Limited-(BCCHK)-1991 — Page 153

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Also since the report was written, there have been

runs on two major banks in Hong Kong Citibank and the

Standard Chartered Bank. I am pleased to say that, after

statements of support by the Hong Kong Government and a

joint statement by the Hong Kong and Shanghai Bank and

the Bank of China, these runs have now ceased and

deposits are climbing again.

EARL OF CAITHNESS