Regulatory Alerts1989-03-08
Added · Updated
The Three-Tier System Annex A: Trading names of LSBS
The regulatory authority outlines the naming conventions for Restricted Licence Banks (RLBs) established by overseas entities in Hong Kong. Foreign banks may incorporate a local subsidiary without using the word 'bank' or establish a branch that must prominently display the description 'Restricted Licence Bank' alongside its trading name. However, banks whose existing trading names do not contain the word 'bank' are exempt from this qualification requirement when operating as branches.
Annex A Trading names of lsbs If Goldsmith Bank, which is incorporated overseas, wishes to establish an rlb in Hong Kong, it has two options. It may incorporate a Hong Kong subsidiary, with a name not including the word "bank" or its derivatives; e.g. Goldsmith (Asia) Ltd. Alternatively it may establish a branch, trading under its own "banking" name, but with the prominent description "Restricted Licence Bank"; e.g. Goldsmith Bank, Restricted Licence Bank. Some banks, however, do not have the word "bank" in their trading name. If Goldberger Brothers is such a bank and if it is authorised as an rlb in branch form, it may trade here with its own names without being qualified by the words "Restricted Licence Bank", as above.
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