20 March 2003

Dear Sir / Madam,

Guidance Note on Taxi Financing

Pursuant to paragraph (g) of the Guidance Note, we have reviewed the data submitted by the Panel established under that paragraph and decided that the Maximum Finance Amount (i.e. the loan cap) per taxi licence, as specified in paragraph (a) of the Guidance Note, shall remain at HK$2.25 million. The current loan cap shall therefore continue to be effective until end of June 2003. The next review will be made in June 2003. Other provisions of the Guidance Note remain unchanged.

Yours faithfully,

Y.K. Choi
Executive Director
(Banking Supervision)