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The following is issued on behalf of The Hongkong and Shanghai Banking Corporation Limited, the Hong Kong Monetary Authority and the Administration Wing of the Hong Kong Special Administrative Region Government:
The responses of The Hongkong and Shanghai Banking Corporation Limited (HSBC), the Hong Kong Monetary Authority (HKMA) and the Administration Wing of the Hong Kong Special Administrative Region Government regarding the design of the HSBC new HK$100 banknote in the 2010 Banknote Series unveiled on July 22 are as follows:
(1) There is a flaw in the design of the HSBC new HK$100 banknote involving the Regional Flag. HSBC has immediately proceeded with the re-designing and re-printing processes with a view to putting the HSBC new HK$100 banknotes into circulation early next year as scheduled, so that members of the public can use the new banknotes for laisee in the Lunar New Year.
(2) HSBC, as a note-issuing bank, has responsibility for the design of banknotes. The design of banknotes was reviewed by the HKMA. As regards the design involving the National and Regional Flags, it had also been referred to the Administration Wing for approval. The three parties had not detected the issue. We sincerely apologise for the incident.
(3) HSBC will bear all relevant costs involved in the revision of the design for the new banknote, the re-making of the printing plate and the printing of the new notes.
Ends/Sunday, July 24, 2011
Issued at HKT 19:58
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