Banking Stability
Banking Stability mainly depends on the "Banking System and Supervision". A "Three-Tier System" was implemented in the 1980s. Institutions are also managed differently depending on whether they are categorised as Licensed Banks, Restricted License Bank or Deposit-taking Institutions. Overseas banks may also establish local representative offices in Hong Kong.
Read more about this topic: Hong Kong Monetary Authority
Famous quotes containing the words banking and/or stability:
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)
“No one can doubt, that the convention for the distinction of property, and for the stability of possession, is of all circumstances the most necessary to the establishment of human society, and that after the agreement for the fixing and observing of this rule, there remains little or nothing to be done towards settling a perfect harmony and concord.”
—David Hume (1711–1776)