Regulatory Alerts2001-11-30
Added · Updated
Removal of the Three-building Condition for Overseas-incorporated Banks
The Monetary Authority issued a notice under section 16(5) of the Banking Ordinance to cancel the condition requiring overseas-incorporated banks licensed since 1978 to operate in no more than three buildings. This regulatory change removes the physical location restriction for these relevant institutions. Consequently, the associated guideline regarding activities permitted at regional and back offices has been repealed as it is no longer relevant.
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