Specification of Multilateral Development Banks

Following our letter of 15 November 2006, I am writing to inform you that the Banking (Specification of Multilateral Development Bank) (Amendment) Notice (L.N. 254 of 2006), which was published in the Gazette on 17 November 2006 and tabled before the Legislative Council for negative vetting on 22 November 2006, will come into operation on 1 January 2007. The objective of the Notice is to repeal the Banking (Specification of Multilateral Development Bank) Notice (L.N. 230 of 2006) gazetted on 27 October 2006 and to specify the 13 multilateral development banks in accordance with the most updated list published by the Basel Committee. A copy of the Notice is attached for your reference.

Should you have any questions regarding this matter, please feel free to contact Ms Margaret Leong at 2878-1912.

Yours faithfully,

Rose Luk
Division Head (Banking Policy)