Hong Kong’s 3-tier banking system could soon be 2-tier as HKMA proposes scrapping ‘deposit-taking companies’

By Enoch Yiu

The Hong Kong Monetary Authority has proposed changing the city’s three-tier banking system for the first time in four decades in a move that would eliminate the smallest category of lender altogether.

Source: Hong Kong’s 3-tier banking system could soon be 2-tier as HKMA proposes scrapping ‘deposit-taking companies’