January 13, 1981, was the Laba Festival in the lunar calendar. However, not many people in Xiangjiang cared about this festival. Everyone went to school when they were supposed to go to school, and went to work when they had just gone to work.
However, there were long queues at various branches of Wing Hang Bank and Hang Seng Bank today, as countless citizens who had deposits with these two banks came to withdraw money.
The ability of the media in Hong Kong is not ordinary. Feng Yubin from Wing Hang Bank in the row gave a big shout-out to some newspapers, and many newspapers reported on him. This morning, everyone in the streets of Xiangjiang knew that Wing Hang Bank had 300 million Hong Kong dollars.
Dead debt. Worried that the money they put in Wing Hang Bank was not safe, they went to Wing Hang Bank’s branches one after another to withdraw the money and put it in other banks.
This time, not only Wing Hang Bank, but also Hang Seng Bank has been affected by Yuchi. Because Lin Xiufeng, a member of the founding family of Hang Seng Bank, is suspected of collaborating with Carinth Group to defraud citizens regarding the Kinmen Tower issue, many citizens are not confident about it.
Compared with Wing Hang Bank, Hang Seng Bank is relatively better. With the support of HSBC, it is not afraid that its bank will collapse due to this run. However, its senior management still held a meeting to discuss how to appease the people of Xiangjiang so that they can
Continue to trust Hang Seng Bank. Otherwise, even if your bank survives this wave of runs, without citizens coming to deposit deposits, your bank will still slowly collapse.
He Shanheng, chairman of Hang Seng Bank, said: "This time due to some influence from the Carnegie Group, our bank is experiencing some troubles. Mr. Vista, please contact Chairman Shen of HSBC and ask him to come forward and stand up for our Hang Seng Bank."
Feet, let us get through this difficult time."
Hang Seng Bank has been controlled by HSBC since 1965. This time there is a problem with Hang Seng Bank, and HSBC cannot ignore it.
Jesse Vista said: "Mr. He, I have reported this matter to Chairman Shen before the meeting. Now HSBC is also holding a meeting to discuss how to solve this matter."
While they were still in the meeting, an administrative staff broke in and reported to them: "He Sheng, we called our business office in Causeway Bay. They are running low on cash and asked us to mobilize funds immediately.
"
He Shanheng said to the finance department: "Immediately arrange to mobilize a batch of cash from us to deal with the subsequent run."
After the financial officer left, He Shanheng said: "Mr. Vista, please go to HSBC immediately and report to Chairman Shen in person and ask them to provide us with support."
"Okay, Mr. He, I'll go to HSBC immediately." Jess Vista knew that the matter was urgent and HSBC had to take action quickly, otherwise Hang Seng Bank wouldn't be able to survive for a few days.
He Shanheng was very angry at the unnecessary disaster caused by his old friend's son. This time it had nothing to do with Hang Seng Bank, but he didn't expect that Lin Xiufeng would be involved and Hang Seng Bank would also be implicated.
He Shanheng said to the administrative manager: "Go and contact the major newspapers and the three major TV stations. I will hold a press conference at three o'clock in the afternoon."
On the Wing Hang Bank side, Feng Jingyao and other senior executives listened to the administrative staff reporting on the status of each branch.
After listening, Feng Jingyao said: "Your administrative department should contact all major business outlets at any time, pay attention to their cash reserves, and arrange for the headquarters to transport funds there at any time to avoid the situation where citizens cannot get their money."
Feng Jingyao knew very well that once the bank ran out of funds, the run would become even more severe. Xiangjiang is such a big place, and as long as any branch has a problem, it won't take long for the whole of Xiangjiang to know about the problem, which will cause more citizens to panic.
The bank's financial director said: "Feng Sheng, if our bank's reserves continue at this rate, I'm afraid we won't be able to last for a few days."
Feng Jingyao said: "Don't worry, I have already negotiated with the Bank of East Asia and the Asian Commercial Bank. Each of them will support us with HK$500 million to deal with this run."
After hearing this, the financial director felt relieved. In this case, as long as half of the citizens did not come to withdraw their deposits, there would be no problem with his bank.
A representative of Irving Trust Company said: "Our group has also held discussions. If needed, the group will support us with US$100 million. I believe our bank can easily handle this run. However, our bank
How to deal with the problem in the future and how to restore the confidence of Xiangjiang citizens in us."
Feng Jingyao also had a headache because of this. Money matters are easy to solve, but it is now very troublesome to make citizens believe that their banks can safely put their money in their own banks.
Feng Jingyao said: "I will find a way in this regard. I will visit Li Shauji, Guo Desheng and Feng Jingxi in the afternoon to ask their three companies to temporarily cooperate with our bank? I think with the support of these three companies, we will definitely be able to stabilize the public.
sentiment. At the same time, our bank has introduced some favorable policies for citizens to deposit money in our bank. I believe that citizens will choose our bank again."
At the branches of Wing Hang Bank, there are still long queues, and citizens waiting to withdraw money are chatting with each other about the news in the market.
There were two middle-aged women who were obviously very familiar with each other and chatted with each other while queuing.
One of them said: "Ali, you also came to withdraw money."
The person named Ali said: "Sister Wang, aren't you the same? I read the newspaper today and it was reported that the bank had 300 million Hong Kong dollars in bad debts. Who knows how many bad debts the bank has not reported? I
This little money is Awen’s hard-earned money, and I don’t want to lose it just like that.”
Sister Wang said: "I think so too. Our family is also thinking about saving more to buy a bigger house. After all, the child is getting married and the place he lives in is smaller now. If the money is gone, what will happen to my family?"
How to live."
Ali is also quite conflicted now. She doesn’t know which bank is safe to put her money in. Banks such as HSBC and Standard Chartered are safe. Unfortunately, the threshold is high and the discounts in various aspects are not as good as those of Chinese banks.
Ali asked Sister Wang: "What are your plans after you withdraw the money this time? Which bank are you going to put it in?"
Sister Wang said: "I have already thought about it. After taking it out this time, I will put it with the Bank of East Asia. The Lee Group has now begun to cooperate with the Bank of East Asia. I believe that the liquidity of the Lee Group in one quarter is enough."
It will withstand the deposits of all our users. If you put it there, there will probably be no problem."
After hearing this, Ali also thought about it. After withdrawing the money, she deposited it into the Bank of East Asia.
At this time, in Li Guobao's office of the Bank of East Asia, after listening to the report from the administrative staff, he was very happy. He did not expect that the Bank of East Asia would be able to profit from this crisis. It was really a feeling of joy.
Li Guobao said: "Please inform me and tell all the bank staff to cheer up and not take any vacations in the past few days to deal with the customers who come to handle business."
Li Guobao knows very well that this is just the beginning. As long as the runs on Wing Hang and Hang Seng Bank are still happening, his business will continue to increase. At the same time, he is also very grateful to the Lee Group for his cooperation and the influence of the Lee Group.
, these citizens will give priority to handling business in their own banks.