Shen Bi said: Tyshawn, HSBC and Standard Chartered will work together to deal with this financial crisis. At the same time, we will do our best to ensure the exchange of some banks' foreign exchange needs so that their banks can handle business normally.
Shen Bi knew very well that HSBC could not escape this time. As the Hong Kong dollar note-issuing bank, they had to stabilize the exchange rate of the Hong Kong dollar and the financial situation in Hong Kong. Fortunately, the Lee Group and the Hong Kong Group helped them share a lot of pressure, otherwise they would HSBC will have a tougher time this time.
HSBC and Standard Chartered were far less prepared for this incident than the Li Group and the Heung Kong Group. Fortunately, they were strong enough and well established to avoid being knocked down by this crisis. They were able to cope with it so far, otherwise they would really We will lose the right to issue Hong Kong dollar notes.
Crosso Tyshawn said: I also hope that the major banks in Xiangjiang can put aside their past grievances at this time and ensure that Xiangjiang Finance can survive this crisis. This will be beneficial to all banks. If the financial situation in Xiangjiang continues to deteriorate, At that time, you will be the ones who suffer the most. Some powerful banks must have the courage to stand up and take responsibility at this time and contribute to the development of Hong Kong.
It's a pity that neither Yuan Tianfan nor Li Guobao, Feng Jingyao and others responded to Crosso Tyshawn. The director of the Hong Kong Monetary Authority obviously hopes to put Chinese banks in the front to protect HSBC and Standard Chartered. The interests of British banks continue to consolidate the positions of the two banks in Hong Kong.
Seeing that none of the leaders of these powerful Chinese-funded banks responded, Crosso Tyshawn felt a little disappointed. Now that the Chinese-funded consortium is becoming more and more influential in Hong Kong, he also hopes that he can take advantage of it this time. This is an opportunity to reduce their strength, but unfortunately these few people are not fooled at all, and it is useless to suppress them with righteousness.
These few people are now ignoring the rabbits. Since the establishment of Tianyu Bank, the Li Group and the Xiangjiang Group have been seeking the right to issue Hong Kong currency notes, hoping to break the monopoly of their British capital in this regard and let them Have a say in this.
It's just that this aspect is their last bottom line in England. They will not let other forces get involved unless they have to, and they will not agree to let the Hong Kong Bank have the right to issue Hong Kong currency notes.
Later, Crosso Tyshawn introduced several banks currently taken over by the Financial Management Bureau and asked everyone present if they were interested.
The banks they have taken over now are also in big trouble. They are all banks that have no cash and are looking for a new bank to take over. This can also reduce some losses. If they go bankrupt and liquidate, the customers with deposits in these banks will suffer huge losses.
Especially now that the exchange rate of the Hong Kong dollar continues to fall, customers of these major banks are asking the Hong Kong Monetary Authority to handle it as soon as possible every day so that they can get their deposits back earlier.
At this time, everyone here has a lot of troubles in their banks. How can you still feel like taking over these hot potatoes at this time?
Some time ago, many banks suffered a run because of the property market. Many banks had a lot of bad debts. This problem has not been completely solved. Now that there is such a big crisis, they still have the strength to take over. these banks.
Even HSBC and Standard Chartered have no interest at all at this time. They still have to focus on foreign exchange runs to ensure that they can survive this round of crisis safely.
When Crosso Tyshawn saw no one answered, he knew that these banks could not be transferred for the time being.
Ever since he took over this position, things have not gone smoothly for him. As soon as he took office, he was faced with the bribery scandal of his predecessor. Many people within the Monetary Authority were implicated, and many banks in Hong Kong suffered runs.
The problems over there have just been sorted out, and yet another crisis has struck. This time the run is more serious than the last time, leaving their department struggling to deal with it, and the financial community in Hong Kong is also currently divided.
Forget it about foreign banks. The local banks in Hong Kong, headed by the Lee Group, have a growing rift with HSBC over the right to issue Hong Kong dollar notes. They are competing in many aspects. This situation will not end until one bank falls.
Their cooperation is almost impossible now.
Crosso Tyshawn only hopes that Governor Yoder and the Executive Council can come up with a solution as soon as possible, introduce policies as soon as possible, and stabilize the current Hong Kong dollar exchange rate in Hong Kong. This way, his pressure will be easier, and the run will not be as crazy as it is now.
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At three o'clock in the afternoon, Yuan Tianfan gave Li Guangyu a detailed report on today's financial meeting in his office.
After hearing this, Li Guangyu said: Don't worry about anything else now. You must ensure that our bank's customers can exchange foreign exchange at any time. At the same time, pay attention to several banks such as Xiangjiang Bank and Bank of East Asia. Once they have a shortage of foreign exchange, you should immediately allocate funds to support them.
, ensuring the normal operation of several banks.
Li Guangyu can't control so much now. Now he just tries his best to safeguard the interests of himself and his allies. Since the Hong Kong government is unwilling to give up the right to issue Hong Kong currency notes, then the crisis will be resisted by the Hong Kong Monetary Authority, HSBC and Standard Chartered.
Well, Li Guangyu will not lose his own interests to take responsibility for them like a fool.
As for Yong'an Bank, Li Guangyu is not worried about this. With the Sumitomo family here, with their strength, this problem will not be a problem for them.
Yuan Tianfan said: Li Sheng, it seems that we have a long way to go if we want to obtain the right to issue Hong Kong dollar banknotes. At this critical moment, neither the British nor the Hong Kong government is willing to give up the right to issue Hong Kong dollar banknotes. I am afraid that our chances will be slim in the future.
Yuan Tianfan very much hopes to get the right to issue Hong Kong dollar notes. No matter whether it is controlled by Tianyu Bank or Hong Kong Bank, it will be very beneficial to the Li Group. With the right to issue currency, the Li Group will have the foundation to become a real company.
A world-class consortium.
It’s just that in the past few years, repeated communications with the Hong Kong Monetary Authority and the Hong Kong government have ended in disappointment. The Hong Kong government has no plans to let Chinese-owned families share the right to issue Hong Kong currency notes. They hope that British capital will firmly control this area.
Benefit.
Li Guangyu had no choice but to hope that when the situation changes later, the British and Hong Kong governments can change their attitudes and allow the Hong Kong Bank to obtain the right to issue Hong Kong dollar notes.
He said to Yuan Tianfan: For the time being, you should focus on this foreign exchange run. This situation will not last long. The government will definitely intervene to stabilize the exchange rate of the Hong Kong dollar. There is still a lot of room for maneuver in this regard. I believe that Hong Kong
The government will not let the highest exchange rate become the stable exchange rate in the future. When the time comes, listen to my instructions. After a certain period of time, Tianyu Bank will fully liberalize foreign exchange exchange.
As an elite in the financial industry, how could Yuan Tianfan not understand what Li Guangyu meant? They would be able to recover part of their losses by operating in this area.
After all, they exchanged a lot of foreign exchange during this period, but the Hong Kong dollar in their accounts continued to depreciate. If they operated properly at the time, they could make up for it somewhat.
Yuan Tianfan said: Li Sheng, I will arrange this matter. As long as you give the order, our major business offices in Xiangjiang will fully liberalize foreign exchange exchange.
(I have to go back to the village today, so the other two chapters will be updated in the evening.)