Through the wealth life

Chapter 752 Powers and Obligations

When Carrefour and Wal-Mart announced the closure of the Xiangjiang store, the Xiangjiang Financial Management Bureau was holding a meeting. The people attending the meeting involved the heads of the major banks in Xiangjiang.

These days, the run and exchange of foreign exchange by the citizens of Xiangjiang has made the financial situation of Xiangjiang extremely severe. Today, the heads of major banks are invited to come, and I hope that everyone can stabilize the current situation and allow the financial industry of Xiangjiang to develop stably.

Hong Kong Monetary Authority Director Ke Luosuo Taishaun said at the meeting: "Hong Kong is currently facing huge challenges in our financial market due to some external factors. The current Hong Kong dollar exchange rate has fallen to 7.6 Hong Kong dollars to one US dollar. From the perspective of the situation, it may continue to fall for a period of time in the future, and I hope that the major banks must reserve more US dollars to meet the citizens' demand for foreign exchange."

At present, Xiangjiang's high-level officials are still negotiating on this issue. Before he got the order from Governor Youde, he could only ask the major banks in Xiangjiang to ensure the financial stability of Xiangjiang, so that citizens can have money and foreign exchange. There will be no panic and anxiety.

This time, Xiangjiang has such a problem. The main problem is not the economic problem. Now we can only wait for the citizens of Xiangjiang to calm down, so that the financial stability can be stabilized, and their crisis can be resolved.

This time, although some Chinese families such as the Lee Consortium and Xiangjiang have come forward to express their views, so that the citizens of Xiangjiang should not express concerns about this, but the nature of seeking benefits and avoiding disadvantages makes the citizens of Xiangjiang want to take the initiative in their own hands. Only the materials and the currency they think are safer can be assured.

That's why this situation happened this time. Fortunately, Hengyu Supermarket Group has made outstanding contributions in terms of material supply and price stability, and the looting of materials in Xiangjiang has basically disappeared.

It’s just that the foreign exchange is still squeezed out, and the Hong Kong dollar’s ​​exchange rate continues to fall, which has exacerbated this phenomenon. After all, no one wants to watch their wealth shrink.

Li Guobao said: "Mr. Tai Xiaoen, I think Standard Chartered and HSBC should make greater contributions in this regard. As Hong Kong dollar note issuers, they have the responsibility and obligation to maintain the stability of the Hong Kong dollar. The banks have relaxed the rules for our major banks to exchange foreign currency at their banks to ease the current difficulties of our major banks."

Faced with Li Guobao's request, both Shen Bi and George Lavin objected. This is simply a joke. If their two major banks are responsible, they are afraid that they will be bankrupted by the Li Consortium.

If the restrictions on the foreign exchange exchange of the two major banks are relaxed, I am afraid that within a day, the foreign exchange of their banks will be wiped out by them, and how will their two major banks operate normally.

Croso Taishawn would not agree with Li Guobao's opinion. This was to put the two major banks to death. No matter when, the two major banks would not be able to relax the restrictions in this regard.

He said: "Mr. Li, I know that many banks in Hong Kong are under great pressure, but this does not include your Bank of East Asia. Yesterday, your Bank of East Asia also announced that your bank has enough foreign exchange reserves and can exchange for customers at any time." , your bank doesn’t need the help of HSBC and Standard Chartered.”

Of course, Li Guobao does not need the help of HSBC and the others. The Bank of East Asia has prepared for several months, and has also reduced external lending, and converted most of the funds into US dollars, just to deal with the current situation.

Now their major banks can sit on the Diaoyutai and see how other banks respond, but he is still willing to do trouble for HSBC and Standard Chartered.

And this time they need to fight for Hong Kong Bank's right to issue banknotes in Hong Kong dollars. This is a very good opportunity for them, and they don't want to miss it.

Li Guobao said: "Mr. Tai Xiaoen, our Bank of East Asia is also a swollen face to pretend to be fat. If we don't say that, it will be more serious for customers to withdraw foreign exchange. Now our Bank of East Asia is in urgent need of support, and Standard Chartered and HSBC are Hong Kong dollar. The two major banks have the obligation and responsibility to accept our Hong Kong dollars for U.S. dollars, to maintain the needs of the citizens of Hong Kong, and to maintain the normal operations of our major banks. If HSBC and Standard Chartered cannot afford it, I think they are not in line with the citizens of Hong Kong as Hong Kong dollar note issuers. Interests."

When Croso Teshawn took office, Governor Yoder reminded him that the Lee Consortium and the Xiangjiang Consortium have been seeking the rights and interests of Hong Kong dollar note issuance rights, how could they let go of such an opportunity this time.

However, Governor Youde has made it clear to him that neither he nor the top British officials have any plans to allow Chinese-funded forces to intervene in the right to issue banknotes in Hong Kong.

It is even more impossible to cancel the banknote issuance rights of the two major banks, HSBC and Standard Chartered. At least for now, the Hong Kong dollar banknote issuance rights can only be in charge of these two banks, and this aspect must be firmly controlled by their British hands.

As for Li Guobao's statement that the Bank of East Asia has reached a crisis point, Croso Teshawn doesn't quite believe it. These banks have been preparing for too long. It is said that each of them has a large amount of foreign exchange reserves in their hands. Tianyu Bank, a family has tens of billions of dollars in foreign exchange reserves, and this is only Xiangjiang, not counting their US dollar reserves in other regions.

If the Bank of East Asia was really in crisis, Tianyu Bank would have taken action long ago, so why would they wait until now? Li Guobao said this because he was fighting for their interests.

Closso Deshaun said: "Mr. Li, I am very aware of the situation of your major banks. Xiangjiang is currently facing unprecedented difficulties. I also hope that everyone can unite at this time to deal with the current predicament together. At the same time, I also hope that Tianyu Bank can assume greater responsibility in this incident."

Yuan Tianfan can quit. Now there is a problem. As the note-issuing banks, HSBC and Standard Chartered did not stand up, but they asked Tianyu Bank to come out. It was a good idea. These banks that manage their own interest groups, as for other banks, that is the business of the Monetary Authority, HSBC and Standard Chartered.

Yuan Tianfan said: "Mr. Tai Xiaoen, there is a saying in Huaxia, you want the horse to be good, but you also want the horse not to eat grass. I don't know if you understand this sentence. We Tianyu Bank has no responsibility or obligation to raise money from HSBC. To solve the problem with Standard Chartered, the stability of the Hong Kong dollar is the responsibility and obligation of the two companies. Now that the Hong Kong dollar has experienced huge fluctuations, it is fine not to pursue responsibility. At this time, the Monetary Authority also hopes to let other banks take responsibility. Everyone."

Although Closor Teshawn didn't quite understand the meaning of this proverb, he could roughly guess it.

Yuan Tianfan's intention was obvious. It is fine to let Tianyu Bank take responsibility, but the financial management bureau must give them the power they deserve, so that they can fulfill their obligations.

It's just that the British government will never give up the right to issue banknotes in Hong Kong at present, and there is no room for negotiation on this matter.

He said: "Shen Bi, Lavin, you two should effectively maintain the stability of Xiangjiang's financial situation according to your bank's situation, so that this turmoil can be passed smoothly. For some banks with insufficient foreign exchange, your two major banks must Do a good job of support to ensure that their banks can operate normally."

(End of this chapter)