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www .sc .com /hk. Standard Chartered Hong Kong (officially Standard Chartered Bank (Hong Kong) Limited, Chinese: 渣打銀行 (香港)有限公司) is a licensed bank incorporated in Hong Kong and a subsidiary of Standard Chartered. It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for ...
The role of issuing other banknotes is delegated to the note-issuing banks in the territory, namely The Hongkong and Shanghai Banking Corporation, Standard Chartered Bank and Bank of China. Policies. The official reserves of Hong Kong and the banking system are important underpinnings of the linked exchange rate system. Tools
Standard Chartered has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has secondary listings on the Hong Kong Stock Exchange, the National Stock Exchange of India, and OTC Markets Group Pink. Its largest shareholder is the Government of Singapore -owned Temasek Holdings.
In 1985, 20-dollar notes were introduced, whilst, in 1993, a 10-dollar coin was introduced and the banks stopped issuing 10-dollar notes. In 1994, the Hong Kong Monetary Authority (HKMA), gave authority to the Bank of China to issue notes. The 1-cent note issued by the Government was demonetised and ceased to be legal tender on 1 October 1995.
The prime rate affects almost all individuals and organizations in some way, typically determining how much interest they’ll have to pay on bank-borrowed money. The prime rate stands at 5.50% ...
Primary dealer. A primary dealer is a firm that buys government securities directly from a government, with the intention of reselling them to others, thus acting as a market maker of government securities. The government may regulate the behaviour and number of its primary dealers and impose conditions of entry.
A linked exchange rate system is a type of exchange rate regime that pegs the exchange rate of one currency to another. It is the exchange rate system implemented in Hong Kong to stabilise the exchange rate between the Hong Kong dollar (HKD) and the United States dollar (USD). The Macao pataca (MOP) is similarly linked to the Hong Kong dollar .
He joined the Chartered Bank of India, Australia and China, serving throughout the Far East from 1954 to 1975. He became the Area General Manager, Hong Kong from 1975–87 and Senior General Manager (London) for Asia Pacific Region, and the Executive Director of the Standard Chartered Bank PLC (SCB) in 1987.