The EFAC Currency Board
Sub-Committee
The Currency Board Sub-Committee monitors and reports on the Currency Board arrangements that underpin Hong Kong's Linked Exchange Rate system. It is responsible, among other things, for ensuring that Currency Board operations are in accordance with established policy, recommending improvements to the Currency Board system, and ensuring a high degree of transparency in the operation of the system. Records of the Sub-Committee's meetings and the reports on Currency Board operations submitted to the Sub-Committee are published.
Chairman
Mr Norman T.L. CHAN, GBS, JP
The Monetary Authority
Members
Mr Peter PANG, JP
Deputy Chief Executive
Hong Kong Monetary Authority
Mr Eddie YUE, JP
Deputy Chief Executive
Hong Kong Monetary Authority
Mr Arthur YUEN, JP
Deputy Chief Executive
Hong Kong Monetary Authority
Dr John GREENWOOD
Group Chief Economist
INVESCO Asset Management Limited
Professor Lawrence J. LAU, GBS, JP
Chairman, CIC International (Hong Kong) Co., Limited
Ralph and Claire Landau Professor of Economics, The Chinese University of Hong Kong
Mr KWOK Kwok-chuen, BBS, JP
Honorary Senior Research Fellow
School of Economics and Finance
The University of Hong Kong
Professor XIE Danyang
Professor
Department of Economics
The Hong Kong University of Science and Technology
Dr David WONG Yau-kar, BBS, JP
Managing Director
United Overseas Investments Ltd
Mr Benjamin HUNG Pi-cheng, JP
Chairperson
The Hong Kong Association of Banks
Secretary
Mr Clement LAU
Head (Corporate Development)
Hong Kong Monetary Authority
Terms of Reference
| (1) | To ensure that the operation of the Currency Board arrangements in Hong Kong is in accordance with the policies determined by the Financial Secretary in consultation with the Exchange Fund Advisory Committee. |
| (2) | To report to the Financial Secretary through the Exchange Fund Advisory Committee on the operation of the Currency Board arrangements in Hong Kong. |
| (3) | To recommend, where appropriate, to the Financial Secretary through the Exchange Fund Advisory Committee, measures to enhance the robustness and effectiveness of the Currency Board arrangements in Hong Kong. |
| (4) | To ensure a high degree of transparency in the operation of the Currency Board arrangements in Hong Kong through the publication of relevant information on the operation of such arrangements. |
| (5) | To promote a better understanding of the Currency Board arrangements in Hong Kong. |