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Press Releases

Hong Kong Banking Sector Consultancy Study
Consultation exercise on the detailed recommendations

1. The Hong Kong Monetary Authority (HKMA) released today (15 January) a document containing full details of the recommendations from the Hong Kong Banking Sector Consultancy Study. This follows the release of the executive summary of the report entitled "Hong Kong Banking into the New Millennium" in December 1998 and marks the beginning of a consultation exercise that will last until the end of March.

2. The 155-page document contains details of the background to each of the current regulatory features and the HKMA's supervisory regime, the arguments for change as well as the associated implications if changes were to be made.

3. "Given the important implications of the consultants' recommendations for the future development of the Hong Kong banking sector, it is necessary to consult all relevant parties before any of the proposed changes are implemented. Any interested parties wishing to comment on the recommendations are encouraged to do so by the end-March deadline. All comments received will be carefully considered", said Mr David Carse, Deputy Chief Executive of the HKMA.

4. The document containing full details of the recommendations can be downloaded from the HKMA website at http://www.info.gov.hk/hkma.

Hong Kong Monetary Authority
15 January 1999

Last revision date: 1 August 2011
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