Regulatory Alerts1989-03-08
Added · Updated
Guideline 1.1: Authorization - Three-Tier Banking System
The Commissioner of Banking issued this guideline to implement Executive Council-approved changes to Hong Kong's three-tier banking system, replacing licensed and registered deposit-taking companies with restricted licence banks and deposit-taking companies. The reforms increase minimum paid-up capital requirements to $100 million for restricted licence banks and $25 million for deposit-taking companies while granting the former greater business scope and naming privileges. New authorizations are restricted to overseas banks or bank-owned entities, with existing institutions grandfathered under specific capital and supervisory conditions.
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