18 June 2004

Dear Sir / Madam,

Supervisory Policy Manual (SPM)
Module IC-6: The Sharing and Use of Consumer Credit Data through a Credit Reference Agency

In light of a recent complaint concerning the sharing and use of consumer credit data, the HKMA finds it desirable to provide more guidance to AIs in handling credit applications referred by an intermediary rather than submitted directly by the credit applicant. We have added a new paragraph 4.2.3 to our SPM IC-6 as attached.

The revised version is issued by notice in the Gazette and takes effect today. On-line access to the module is available under the icon of "Supervisory Policy Manual" in the HKMA's public (http://www.info.gov.hk/hkma) and private websites.

Should you have any questions relating to the module, please contact
Mr Alfred Wong at 2878-1292 or Miss Ivy Wong at 2878-1599.

Yours faithfully,

Raymond Li
Executive Director (Banking Development)