Granting of restricted banking licence to EUROCLEAR BANK

The Hong Kong Monetary Authority announced today (Wednesday) that the Monetary Authority has granted a restricted banking licence to EUROCLEAR BANK (EB) under the Banking Ordinance. The granting of the restricted banking licence took effect on 15 April 2008.

EB, incorporated in Belgium, is a core constituent of the Euroclear Group. According to the July 2007 issue of The Banker, EB is the 5th largest bank in Belgium and the 305th largest bank in the world in terms of tier one capital.

After the granting of a restricted banking licence to EB, the number of restricted licence banks in Hong Kong has increased to 30.

For further enquiries, please contact:
Thomas Chan, Senior Manager (Press), at 2878 1480 or
Hing-fung Wong, Manager (Press), at 2878 1802

Hong Kong Monetary Authority
16 April 2008