Submission to the Hong Kong Monetary Authority on Consultation Paper on the Review of the Three-Tier Banking System
The Consumer Council (the Council) is pleased to submit views to the Hong Kong Monetary Authority (HKMA) in relation to the Consultation Paper on Review of the Three-Tier Banking System (the Consultation Paper), in particular consultation questions 1, 2, 7 and 8 which are of concern to consumers in Hong Kong. Overview In the Consultation Paper, the HKMA revealed that according to its recent review, the existing three-tier banking system has become more complex than necessary to achieve a balance...