CDEW: LMP 0690
C D Elston
Senior Adviser, Asia & Australasia
International Divisions
Telephone:
Facsimile:
071-601 4265
071-601 5561
PF Ricketts Esq
Head
Hong Kong Department
Foreign & Commonwealth Office
Whitehall
London
SW1A 2AF
BANK OF ENGLAND
LONDON EC2R 8AH
16 August 1993
де деле,
You may like to be aware that the Bank has been approached by the Hong Kong Monetary Authority with a view to undertaking a consultancy project, lasting up to about two months until the end of October, on the reform of the large value Hong Kong dollar payment systems; and in particular on whether the present system, in which there can be substantial overnight and intra-day inter-bank exposures, should be replaced by a real-time gross settlement (RTGS) system.
The HKMA has already done some work, with some assistance from the Bank, to analyse the present payment systems and their inherent exposures and has set up a working party, which includes HSBC, Standard Chartered and the Bank of China, to map out the way forward. In this situation the HKMA would like the Bank to help with further analytical work and in particular to advise on the specific merits in Hong Kong of moving to an RTGS system, including any impact of such a move on the existing monetary policy arrangements in Hong Kong.
To this end, therefore, the Bank has agreed to release
Robert Lindley from our Banking Department Payment Systems Division from the end of August.
You may wish to consider whether it would be advisable to inform the Beijing Embassy of this consultancy.
I am copying this letter to Jamie Mortimer at HMT.
Четы
sincere
Yours smically, Сині були
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