Note-issuing Banks
The Government, through the Hong Kong Monetary Authority, authorises three commercial banks to issue currency notes in Hong Kong:
- The Hongkong and Shanghai Banking Corporation Limited;
- the Standard Chartered Bank (Hong Kong) Limited; and
- the Bank of China (Hong Kong) Limited.
Authorisation is accompanied by a set of terms and conditions agreed on between the Government and the three note-issuing banks. Banknotes are issued by the three banks, or redeemed, against payment to, or from, the Government Exchange Fund in US dollars, at a specified rate of US$1 to HK$7.80 under the Linked Exchange Rate system. Banknotes issued by the three commercial banks are printed in Hong Kong by Hong Kong Note Printing Limited.
Read more about this topic: Banknotes Of The Hong Kong Dollar
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