The outside world is not surprised that after Sir Gao takes office as the president of the Xiangjiang Financial Administration, he will burn three fires and cut three tricks of axe after taking office. It is not surprising, and he even looks forward to it.

Because Hong Kong has suffered from financial turmoil for a long time, for example, every time a bank crisis occurs, ordinary depositors are all worried about their deposits.

There is not a voice calling for the establishment of central bank supervision, but the ghosts of the Hong Kong government have no motivation to do it. The vested interest groups headquartered in the local area are greedy for privileges, and international forces prefer to do whatever they want, relying on the knowledgeable people in the academic circle and ordinary people.

Power cannot even slap the waves.

There may even be even more bullying. The powerful ghost who masters the martial arts secrets of finance have thrown out the difficulties, costs, etc. of the difficulty and cost of establishing a central bank seem to be rational, neutral, and objectively. Do you have any solutions?

?Do you have experience in governance? Since you don’t have one, then be content with the status quo!

Therefore, the performance of the Xiangjiang Financial Administration after its official establishment has attracted considerable attention.

However, the outside world did not expect that the result would be so magnificent, turning the tide, making drastic moves, and acting decisively!

The Xiangjiang Financial Administration was officially established for less than a month, and the global stock market crash broke out on Black Monday.

Faced with this sudden financial earthquake, the Xiangjiang Financial Administration decisively rescued the market, and was not afraid of controversy, and went directly to buy stocks. As a result, it turned out to turn the tide and received unanimous praise from the Xiangjiang media, thus establishing the authority of the Xiangjiang Financial Administration.

Immediately afterwards, Sir Gao cut out his first axe after taking office and established a discount window for the Xiangjiang Financial Administration.

This move was interpreted by the media as the Xiangjiang Financial Administration, as the Central Bank of Xiangjiang, must form a powerful regulatory tool, which can be said to be accurate in taking action.

You should know that the central bank's regulatory tools are nothing more than open market operations, discount rates, deposit reserve ratios, basic interest rates, etc.

But in a special environment like Xiangjiang, deposit interest rates have been dispersed to the hands of the Xiangjiang Banking Association, and the Xiangjiang Financial Administration can only gain the authority to agree on the interest rate; the mechanism of deposit reserve ratio is not welcome,

Fortunately, through the Xiangjiang Banking Regulation, a similar regulatory effect was achieved with the indicator of the minimum current asset ratio.

Let’s talk about open market operations. In the special situation of Xiangjiang, relatively most reputable securities such as treasury bonds and treasury bonds are definitely not mentioned, which makes open market operations a castle in the air.

But Sir Gao was very clever. As early as the Xiangjiang Foreign Exchange Fund Administration, he successfully launched foreign exchange fund bonds and foreign exchange fund bills. With the outstanding performance of Xiangjiang Foreign Exchange Fund now among the top ten foreign exchange reserves in the world, foreign exchange fund bonds and foreign exchange funds, foreign exchange fund bonds and foreign exchange funds

Notes are the most reputable securities in Xiangjiang, which in turn gives the Xiangjiang Financial Administration a powerful regulatory tool that is effective and in fact open market operations.

After the Black Monday stock market crash broke out, the Xiangjiang Financial Administration used open market operation tools to conduct reverse repurchase in the rescue plan launched.

Now, based on foreign exchange fund bonds and foreign exchange fund bills, the Xiangjiang Financial Administration has established a discount window for the banking industry, which has completed the regulatory tools of the Xiangjiang Central Bank.

It has to be said that the foundation laid by the Xiangjiang Foreign Exchange Fund Administration is too strong. The abundant balance of Xiangjiang Foreign Exchange Fund, coupled with the triumphant momentum that turned the tide in the stock market crash, the discount window mechanism of the Central Bank of Xiangjiang is simply natural, and it is even a bit easy for the media to make it easy.

Before we could fully report it, we started to operate.

Maybe the first axe is really easy. Sir Gao's second axe was cut out at an unexpected speed, and the difficulty is even more unexpected. It is established to establish a Xiangjiang instant payment settlement system that matches the Xiangjiang International Financial Center to make it more reasonable.

, a more effective central settlement mechanism replaces the old Xiangjiang banking industry secondary settlement system.

There is also something even more dumbfounded by the outside world. Huifeng was stripped of the privilege of Xiangjiang Banking Industry's settlement management bank management. Although there are seats in the central settlement company, Gao Yi, Standard Chartered, and Bank of China also have it. How can it offset that

Why did Huifeng obediently and have no objection to the loss of monopoly?

If even Huifeng cooperates, then on July 1 next year, Xiangjiang banking industry will officially switch to the central settlement system with the Xiangjiang Foreign Exchange Fund as the core. The Xiangjiang Financial Management Bureau under the leadership of Sir Gao is really efficient!

The discussion around the Xiangjiang instant payment and settlement system is in full swing, the Xiangjiang Financial Administration held a press conference.

Sir Gao announced that in view of the booming development of Xiangjiang's insurance industry, the potential risks of insurance companies' participation in investment cannot be ignored. For example, in this stock market crash, in order to regulate the industry, the Xiangjiang Financial Administration began to establish a corresponding regulatory agency - Xiangjiang Insurance Industry Supervision Office.

It has to be said that Sir Gao once again accurately targeted the shortcomings of the industry and observed the pain of the people.

The current great development momentum of Xiangjiang insurance industry began in the late 1970s.

Although an insurance company is a financial institution, it is very simple to establish in Xiangjiang. As long as you apply for business registration and pay the registration fee to the company registration office, you can officially open your business and fool people's security deposits.

It is not difficult to imagine that insurance companies sprung up like mushrooms after a rain. Not only banks and financial companies established insurance companies, but also commercial banks and real estate companies established insurance companies.

In order to protect the interests of the insured, the Hong Kong government has imposed mandatory provisions on the capital amount of insurance companies under the Hong Kong Insurance Ordinance, with a minimum capital amount of five million; for general insurance business or life insurance business, each of which is five million; for both business operations; at the same time, operating

General insurance business and life insurance business are 10 million; statutory insurance business is 10 million, etc.

However, with the proliferation of finance, these supervisions are definitely not enough. In order to make a profit, insurance companies also need to invest and have close ties with private equity funds, junk bonds, etc. It must, and can only be made by the more professional Xiangjiang Financial Administration.

Come to supervise.

Sir Gao carefully explained that the Xiangjiang Insurance Industry Supervision Office is responsible for approving the insurance company's registration application, "The standard for approval of Xiangjiang Insurance Company is that, in addition to the applicant meeting the minimum capital amount, compensation amount, and reinsurance arrangement requirements, etc.

, the applicant's business plan in Hong Kong, whether the applicant has sufficient management and technical talents and funding sources, and provides appropriate protection for policy holders or potential policy holders, etc., are also factors that cannot be ignored."

Finally, Sir Gao emphasized, "After the Xiangjiang Insurance Ordinance is officially revised, the Insurance Industry Supervision Office will be granted the power to intervene in the insurance industry under specific circumstances."

Financial reporters secretly guessed that this was the third axe that Sir Gao cut out? It felt that compared to the first two axes, it was much simpler.
Chapter completed!