The Birth of the Hong Kong Island Family.

Chapter 285 [Bank run event]

Wednesday, April 6.

A group of "nervous" depositors flocked to the head office of Liu Chong Hing Bank, Des Voeux Road West, Central. It was only early in the morning at this time, but more and more people gathered.Each of them had anxious expressions on their faces, as if they had encountered some catastrophe.

There was a lot of discussion in the crowd, and angry voices came from time to time.

"I never imagined that Liao Baoshan is such a person that she went to sell flour, and now she is fleeing with money!"

"I, XX Liao Baoshan's ancestor ~ eighteen generations, took the deposits of our fellow villagers as our own, not to mention speculating in land and real estate, and even wanted to take the money and flee abroad after making a fortune."

"What I heard is that Liao Baoshan emptied the depositor's account and had no money to cash it out, so we should consider ourselves unlucky. Pooh, if he dares to appear in front of me, I will make him pay for it today."

"Why don't you open the door, I want to withdraw money! Damn Liao Baoshan, you are a big liar!"

More and more people gathered here, and the rumors began to spread, and soon this place was already crowded with people, and it was overcrowded.

When the bank staff came to work in the morning, they were taken aback immediately. Under the urging of the people in line, they hurried back to work, called the police, and reported to the senior management.

For a while, Hong Kong's first bank run after World War II broke out.

Liao Chong Hing Bank was troubled by unfavorable rumors and rumors, and was squeezed out by a large number of depositors. About 300 million yuan was withdrawn on the same day.What's worse is that in the future, as rumors have spread all over Hong Kong and Kowloon, the run has become more and more intense.

When Liao Baoshan learned of the liquidation incident and the spread of rumors, she became extremely anxious.

That night, he stayed up all night, crying on the pillow mat.

He understands that tomorrow will be the real test, and the run will spread to branches in Causeway Bay, Mong Kok, Sham Shui Po, and Kowloon City.

The situation at Liao Chong Hing Bank is even more unbearable to a run on cash. With a total of 1.08 million Hong Kong dollars in deposits, he has already lent a full 8800 million Hong Kong dollars to himself and his customers, which means that the bank has only 2000 million in cash flow.

In the face of the outbreak of the liquidation incident, this little money lasted for less than three days.

And those who stayed up all night, there were also a large number of depositors, who gathered in various branches of Liao Chong Hing Bank, sleeping on the street, waiting for the first time to withdraw money the next morning.

Some people wept and shed tears, stamped their feet and cursed Liao Baoshan for harming them;

Someone was full of swear words, scolding Liao Baoshan for letting her years of hard-earned money turn into bubbles;

Someone was beating on the surrounding buildings and public objects, anxious.

The appearance of all living beings is sad and bitter!
"Lin Sheng, you must help me this time! You know, there are rumors outside, I am in Hong Kong well, how could I run away?"

On the afternoon of the second day of the run, Liao Baoshan came to Lin Zhichao's office to ask for help.

Apart from his Chaoshan fellow, the first thing he thought of was Lin Zhichao. The first was that Lin Zhichao was rich, and the second was that the two had a good relationship.

Then, just this morning, many Chaoshan villagers rejected his loan request for various reasons; those who agreed to borrow money were only hundreds of thousands or millions, which is simply a drop in the bucket.

To sum up, he combined the cash from the real estate company and the funds promised to be borrowed by Chaoshan fellow villagers to a total of less than 3000 million Hong Kong dollars; this amount of funds is estimated to last for three days, or even less.

Lin Zhichao sat on the sofa with Liao Chuangxing, looked at Liao Baoshan's haggard face, and immediately felt the power of rumors.

"Brother, a lot of my funds are invested, and I can't spend much in a short time. In this way, I will ask my financial manager to come and ask him how much he can use!"

Liao Baoshan suddenly felt a little anxious, this kind of rhetoric seemed to have appeared before.

"Then ask, Lin Sheng, you know mine. I didn't lose any money. It was just invested in real estate. I can still afford it."

Lin Zhichao nodded, then dialed the phone on the desk, and said something to it.

Afterwards, Lin Zhichao turned his head and said, "Brother, since things are not at the point where things are going to end, don't worry about your health. Money, as long as you are around, you can earn it back soon."

How could Liao Baoshan be in the mood to listen to this, but because of Lin Zhichao's face, she could only nod her head.

As everyone knows, Lin Zhichao is saving his life!
In any case, after this incident, even if Liao Baoshan survived, her reputation would plummet. It would be difficult for the bank to recover, and the real estate would also suffer some losses.

Therefore, Lin Zhichao will not regard him as an opponent.

After a while, Zhou Fuzhao walked in.

Lin Zhichao said: "How much money can the company withdraw immediately?"

Looking at Liao Baoshan, Zhou Fuzhao knew the reason of the matter, and said: "We should be able to withdraw 1000 million Hong Kong dollars, but if we withdraw all of them, our company will be short of funds in a short time."

Lin Zhichao immediately interrupted: "I'll mobilize some more from Changjiang Industry, and the company's operation will be fine! In this way, you immediately take someone to withdraw the money yourself, and then send it to Liao Sheng. I can only help you with so much money. , My Yangtze River Industry can make money, but almost all of it is used to subsidize shipping, as you know, shipbuilding is very expensive."

At this time, Liao Baoshan had already stood up. Although the amount was lower than expected, it was more generous than those fellow villagers.What's more, Lin Zhichao made it very clear that although he was rich, he had to subsidize the funds for shipbuilding; in addition, he had considered beforehand that Lin Zhichao invested so many buildings and hotels, and the funds would definitely be taken up.

"Lin Sheng, you have really helped me a lot. When the turmoil subsides, I will invite you to have a drink together."

Lin Zhichao patted Liao Baoshan on the shoulder and said, "Brother Liao, you can refer to Chen Detai's past. Only HSBC and Standard Chartered can solve the root cause. Because depositors need to boost confidence and dispel rumors, as long as HSBC and Standard Chartered support you , in order to stop the run. Otherwise, the huge funds, when I have the most abundant funds, may not be able to bear it."

Although Liao Baoshan didn't listen to it immediately, she remembered it in her heart and said, "Okay, I will remember it!"

Lin Zhichao said: "Okay, go and do your work. I'll ask Manager Zhou to accompany you to withdraw the money. I'll call the bank right away. If you have any questions later, you can communicate with me. I won't fear you like a tiger. After all, I know You are not the Chen Detai back then, and you are fully capable of overcoming this difficulty."

Liao Baoshan was really moved. Many of his fellow Chaoshan people were afraid of him like a tiger; but this friend from Shunde not only lent him the largest fund, but also was willing to keep in touch with him at any time.

He didn't say thanks for his great kindness, so he could only bow his hands and leave with a heavy heart.

After Liao Baoshan and Zhou Fuzhao left, Lin Zhichao immediately called the bank and told them to withdraw the 1000 million funds immediately.

In fact, Lin Zhichao had already communicated with Zhou Fuzhao just yesterday, and Liao Baoshan will definitely look for him. The amount of funds will be discussed in advance.

1000 million funds, not too much, not too little!
If the extra 1000 million funds can change Liao Baoshan's fate, then Lin Zhichao has nothing to say.

But Lin Zhichao understands that 1000 million funds will not change much. Only the joint statement and financial support of Standard Chartered and HSBC can resolve the crisis.

Because, the most important thing here is to stabilize reputation!

Of course, Lin Zhichao can also issue a statement saying that he is willing to guarantee; if so, I believe that the effect will not be inferior to that of Standard Chartered Bank, and the run may subside.

But Lin Zhichao will definitely not do this kind of thing, unless there is a bank run of East Asia, he is willing to guarantee, and it must be the era when the Jian Dongpu family is in charge.After all, Jian Dongpu trusted him so much back then.

On Liao Baoshan's side, Lin Zhichao took out 1000 million, which not only fits his identity, but also echoes the friendship between the two.

If he had the right to rescue, then wouldn't Liao Baoshan not learn his lesson and would still treat the bank's funds as his own in the future, maybe even bigger storms would happen in the future.

The Liao family must bear this lesson.

However, he didn't want Liao Baoshan to die like in his previous life.

In fact, Liao Baoshan also sought help from other Chinese-funded banks, but none of them were rejected, or they refused to hand over to the board of directors for discussion; It is a drop in the bucket.

On the evening of the third day when the "Liao Chong Hing Bank Incident" broke out, HSBC and Standard Chartered Bank issued a joint statement: they believed that Liu Chong Hing Bank's assets exceeded its liabilities, expressed their support for Liu Chong Hing Bank, and lent 3000 million Hong Kong dollars to the bank to cover To cope with the run.

At the same time, the police department also publicly stated that it is purely a rumor that a well-known banker is wanted by the police or his situation is restricted.

HSBC and Standard Chartered, as standing members of the Hong Kong Association of Banks, heard about this incident and were afraid that the bank run would spread to other banks, so they decided to invest in the rescue.The loan of 3000 million Hong Kong dollars is because HSBC and Standard Chartered believe that 3000 million Hong Kong dollars can quell the run.

as predicted.

The next day.

Since the fourth day of the 'run event' of Liu Chong Hing Bank, the trend of the run has eased, and the statements of HSBC and Standard Chartered are still very effective.

Of course, the reputation of Liao Chong Hing Bank has been greatly affected, so some depositors are still worried and continue to withdraw money and close their accounts.

Only some depositors who are not willing to pay interest decided to continue to wait and see.

According to reports, more than 20000 depositors went to withdraw money in the first three days, and the deposits that were withdrawn were about 3000 million yuan.

Liu Chong Hing Bank Head Office.

Liao Baoshan didn't have a good rest for three nights in a row, but he didn't dare to rush to the bank too early for fear of being beaten up by depositors; so at nine o'clock in the morning, he came to the office quietly through other channels.

"How is the situation outside? Has it improved?" He asked eagerly when he saw the bank management.

"It has improved a lot, and the signs of crowding are decreasing. Although there are still some people queuing up, we believe that it will calm down in these two days." The executive said quickly.

Liao Baoshan nodded, and let the senior management go to work, while he picked up the newspaper and read it, and found the statement about HSBC.

Suddenly, he stood up in shock.

I see.

Originally, the second joint statement stipulated that 'HSBC and Standard Chartered have made certain arrangements to bring the incident of Liu Chong Hing Bank under control. '

But now, publishing in newspapers has become the business of Liao Chong Hing Bank, which is completely under the control of HSBC and Standard Chartered. '

"Could it be that HSBC and Standard Chartered are going to eat my property!"

"I knew that no ghost would be so kind!"

Liao Baoshan thought that the two big banks would take advantage of the fire and annex his assets, and was filled with grief and anger.

Coincidentally, many friends called and talked about the news in the newspaper. Everyone said that HSBC Bank might take over Liao Chongxing's enterprise, so Liao Baoshan should be careful.

"what should I do?"

With this thought in mind, Liao Baoshan fell into trouble again, further exhausted physically and mentally, and anxious.

Actually:
HSBC and Liu Chongxing drafted a joint statement, which is roughly: "HSBC and Standard Chartered have made certain arrangements to bring the incident of Liu Chongxing Bank under complete control."

However, when the original English manuscript was translated into Chinese and published in a newspaper, it became "the business of Liao Chong Hing Bank is completely under the control of HSBC and Standard Chartered."

Damn Wenchang Jiha, all the rivers and rivers have passed, but something went wrong in the translation process.When people point their backs, they will get stuck in their teeth if they drink cold water.

The Liao Chong Hing bank run incident subsided on the fifth day. Although it did not cause a dome effect, it still had some negative impacts on the stock market and real estate.

Lin Zhichao’s withdrawal from the stock market was not entirely due to this reason. In short, he personally believes that the Hong Kong stock market has almost reached its peak temporarily; .

Instead of putting money in the stock market, it is better to put it in the hands of the money.What's more, he has earned 1000 million, and Lin Zhichao is already very satisfied. After all, the Hong Kong stock market in this era does not have much oil and water.

"Boss, Liao Sheng is outside!"

"Oh, let him in."

Liao Baoshan came to the door again, and Lin Zhichao was a little surprised. After all, it has been seven days since the Liao Chongxing bank run incident, and it has completely subsided.Undoubtedly, the Liao Baoshan family's vitality has been seriously injured, and the biggest loss is reputation.

I saw Liao Baoshan again and Lin Zhichao almost didn't recognize him. I haven't seen her for a few days.

"Sheng Liao, make sure you are healthy. Money is just something outside your body."

Liao Baoshan said with a wry smile: "Lin Sheng, I am not as open-minded as you. I watched HSBC and Standard Chartered want to eat me. I couldn't sleep every day, so I cried!"

It's quite heart-pounding!
Lin Zhichao immediately comforted him: "Impossible, why would Standard Chartered and HSBC eat you? Your assets are greater than your liabilities, so why should they eat you?"

In Liao Baoshan's mind, he felt very stubborn. He didn't listen to Lin Zhichao's persuasion.

"Lin Sheng, you don't know that Standard Chartered and HSBC have arranged for Luo's Bingham Accounting Firm to check the account books of Liao Chongxing Bank, and asked Liao Chongxing to auction off the property to repay the loan. With the current market situation, not only can't auction the right price, but even I will still be eaten by my peers. The assets I have managed to acquire, will I have to watch them go away like this? I am not reconciled!"

The obsession was too deep, Lin Zhichao couldn't help frowning!
"Sheng Liao, calm down! With me, Airship Tai, and Li Gaofu around, no one can eat cakes. You have to trust our character in this regard."

Liao Baoshan flashed a hint of relief, but quickly said: "Although that is the case, it is obvious that my property is going to be discounted in the current market. Lin Sheng, only you can help me now!"

Lin Zhichao immediately invited Liao Baoshan to sit down and said, "How do you want me to help?"

Liao Baoshan said: "There is a way, that is, I will sign a sales contract with you, and I will sell all the assets to you. In this way, HSBC and Standard Chartered will not auction off my property." Then quickly added: " Don't worry, this contract is for HSBC and Standard Chartered to see, once the storm is over, the contract can be terminated by you."

Lin Zhichao thought in his heart that about 5000 to [-] million properties would be involved. Signing a contract would immediately have legal effect, which might be inappropriate; after all, Liao Baoshan would not sign the contract at a low price, it must be the market price.

Moreover, Lin Zhichao has already said that he has no cash flow, so if he agrees now, it would be a bit bad.

So, he said tactfully: "Sheng Liao, as a friend, I really want to help you, but your method is very inappropriate."

Liao Baoshan was disappointed immediately, and then said in a begging tone: "Lin Sheng, for the sake of our friendship of more than ten years, please help me. In Hong Kong, only you can help me."

Lin Zhichao said straightforwardly: "Liao Sheng, if you believe me, follow my method:

First, it is already a fact that HSBC and Standard Chartered are now forcing you to auction properties to pay back the money.Your property is worth more than 1 million yuan, they can't eat it, and they don't dare to eat it, otherwise the reputation will be over.

Second, to auction properties, find Harimin to conduct auctions. This is an auction house for foreigners. Foreigners auction properties, all of them are true; if you ask us Chinese people to auction, you can't believe it. "

It's not that Lin Zhichao belittled Chinese people, that's the fact. He is also Chinese, but he must recognize the reality.

Liao Baoshan said weakly: "If HSBC insists on me auctioning the property, I can't do anything about it. But I hope that Lin Sheng will take the lead and talk to those experts, and don't add insult to injury."

Lin Zhichao said: "Don't worry about this, no one will eat cakes!"

But he also understands that the price will not be higher than the market price in May, but it will not be lower either. After all, with the support of Lin Zhichao, Airship Tai, and Li Gaofu, several real estate developers can almost reach [-]%.

Before leaving, Lin Zhichao told Liao Baoshan again and again: "Brother, think about how many years you have laid down hundreds of millions of assets. This time, you will lose a little, and you will make it back later. If the body is worn down, Lie Wen will certainly be able to take care of Liao's family business , but can you still have your glory?"

Liao Baoshan finally listened to it this time, bowed her hands together, and said, "I will definitely remember Lin Sheng's teachings!"

After sending Liao Baoshan away, Lin Zhichao returned to his seat and couldn't help sighing.

Only by personal experience can we understand the dangers of the market.

Fortunately, I have escaped from the initial risk of the market. The three group companies have almost zero debt, and any risk will not be fatal.

Even if he encounters an oil leak in the United States, in this era, the maximum compensation is [-] million US dollars, basically tens of millions of dollars.

He can afford it, and what's more, he won't feel as heavy as Liao Baoshan.

For Lin Zhichao, if he gathers more American wool in the future, the loss will come back.

Of course, Lin Zhichao still strictly prevented that kind of thing from happening, and repeatedly told the senior seafarers not to change the route without authorization.

Liao Baoshan can't do it, after all, he doesn't know the future!

This time he lost a lot:
First of all, the reputation of Liu Chongxing Bank will be very small in the future, and it will take a long time to recover;
Secondly, properties worth about 5000 million will be 'sold at a low price', theoretically losing [-]% of the property.

Hope he figured it out!

Lin Zhichao also does not want a friend to be gone!
As for not helping Liao Baoshan with all his strength, Lin Zhichao insisted on his own ideas.

Not to mention Liao Baoshan, even Li Gaofu, even his father-in-law Tang Zhongyuan and Lin Zhichao helped to this extent.

After all, if you don't teach you a lesson, how can you grow up, and will you have to wipe their ass every time in the future?

It's not that it's on the verge of bankruptcy, it's just a loss of property!

In order to help Liao Baoshan, he also lent 1000 million Hong Kong dollars, which is probably the same as the total of Liao Baoshan's fellow villagers; at the same time, he also promised not to let people eat cakes.

It's enough for friends.

(End of this chapter)