Page describing the breakdown of licensed and other banks in Hong Kon

Hong Kong Monetary Authority

Yale University

Yale University EliScholar – A Digital Platform for Scholarly Publishing at Yale YPFS Documents (Series 1) Browse by Media Type 1-1-1900 The Three-tier Banking System Hong Kong Monetary Authority Follow this and additional works at: https://elischolar.library.yale.edu/ypfs-documents Recommended Citation Hong Kong Monetary Authority, "The Three-tier Banking System" (1900). YPFS Documents (Series 1). 10493. https://elischolar.library.yale.edu/ypfs-documents/10493 This Document is brought to you for free and open access by the Browse by Media Type at EliScholar – A Digital Platform for Scholarly Publishing at Yale. It has been accepted for inclusion in YPFS Documents (Series 1) by an authorized administrator of EliScholar – A Digital Platform for Scholarly Publishing at Yale. For more information, please contact elischolar@yale.edu. 4/29/2021 Hong Kong Monetary Authority - The Three-tier Banking Systemhttps://www.hkma.gov.hk/eng/key-functions/banking/banking-regulatory-and-supervisory-regime/the-three-tier-banking-system/ 1/3The Three-tier Banking SystemAny corporation hoping to operate a banking business or a business of taking deposits mustobtain a licence issued by the HKMA. Hong Kong maintains a three-tier system of deposit-taking institutions, comprising licensed banks, restricted licence banks, and deposit-takingcompanies. They are classi ed according to the amount and term of deposits accepted andthe nature of the business, and are collectively known as authorized institutions.   Type of  Deposit-takingInstitutionsLicensed Banks Restricted LicenceBanksDeposit-takingCompaniesBusinessOperate currentand savingsaccounts;Accept depositsof any size andmaturity fromthe public;Pay or collectcheques drawnby or paid in bycustomers; andUse the name“bank” withoutrestrictionPrincipallyengaged inmerchantbanking andcapital marketactivities; andMay takedeposits of anymaturity ofHK$500,000and aboveMostly ownedby, or otherwiseassociated with,banks;Engage in arange ofspecialisedactivities,includingconsumer nance,commerciallending andsecuritiesbusiness; andMay takedeposits ofHK$100,000 orabove with anoriginal term ofmaturity of atleast threemonths4/29/2021 Hong Kong Monetary Authority - The Three-tier Banking Systemhttps://www.hkma.gov.hk/eng/key-functions/banking/banking-regulatory-and-supervisory-regime/the-three-tier-banking-system/ 2/3Type of  Deposit-takingInstitutionsLicensed Banks Restricted LicenceBanksDeposit-takingCompaniesList ofInstitutions  List of licensedbanks  List ofrestrictedlicence banks  List of deposit-takingcompanies Local Representative O cesOverseas banks may establish local representative o ces in Hong Kong. However, theseo ces are not allowed to engage in any banking business and their role is con ned mainlyto liaison work with its customers in Hong Kong.List of local representative o ces (EXCEL File, 31.0 KB)Addresses of Authorized Institutions and Local RepresentativeO cesContact details of authorized institutions and local representative o ces (EXCEL File,103.5 KB)Related InformationRegister of AIs and LROsinSight Article(s)21 Jun 2018 Arthur Yuen on Beware of Representations Using the Description “Bank”4/29/2021 Hong Kong Monetary Authority - The Three-tier Banking Systemhttps://www.hkma.gov.hk/eng/key-functions/banking/banking-regulatory-and-supervisory-regime/the-three-tier-banking-system/ 3/3Monthly Statistical BulletinLatest number of authorized institutions and local representative o cesLast revision date : 01 April 2021

The Three-tier Banking System

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The Three-tier Banking System

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