Chapter 890: 890

What Gao Xian has mastered, represented by the position of president of Xiangjiang Exchange Fund Management Bureau, the covetous and scruples of Xiangjiang financial leadership, and so on, are not groundless hatred, which has a profound causal relationship.

Take the Xiangjiang banking crisis for example. The consequences of the two Xiangjiang banking crises in the 1960s and 1980s can reflect the mystery.

After the outbreak of the Xiangjiang banking crisis in the 1960s, the Hong Kong government invited a ghost expert named Tomkinson from Britain to conduct research in Xiangjiang, and finally formed the Tomkinson report. On this basis, the Hong Kong government launched a new version of the Xiangjiang Banking Ordinance.

Unfortunately, the effect of the Tom Kinson report can not be complimented. The shortcomings of the Xiangjiang banking industry summarized by it are nonsense. People in the Xiangjiang circle can sum up clearly, and the regulatory measures proposed are also negative strategies, which is just in line with the "laissez faire" policy concept of the Hong Kong government at that time, which was more inactive than "active non intervention".

In Xiangjiang's environment, banks' investment in the stock market and real estate accounts for too much of their own capital, as well as trade speculation and foreign exchange arbitrage, which is simply a natural result. They must rely on accurate regulatory measures to prevent banks from falling into crisis.

In the 1960s, the Hong Kong government finally passed the Hong Kong government's decision to suspend the issuance of new Hong Kong banking industry licenses, which finally came to an end, more or less reflecting the incompetence of the Tom Kinson report.

By the 1970s, various financial companies and investment banks had sprung up like mushrooms. Not bound by the interest rate agreement of Xiangjiang banking industry, they began to grab the deposits of licensed banks, and even became Xiangjiang's shadow bank.

For this new situation in the new period, the Tomkinson report is even more outdated.

Not surprisingly, Xiangjiang's banking industry broke out a wide-ranging crisis after entering the 1980s.

However, the outcome of this time is different. Gao's Bank Group has become a major force in actively rescuing crisis banks. At the same time, Gao Xian has put forward a highly operable banking supervision scheme including capital adequacy ratio, which has indeed enabled Xiangjiang banking industry to survive the crisis.

You know, this has successfully solved the Xiangjiang banking industry crisis and involved the root cause of the crisis by relying on the local strength of Xiangjiang, especially the strength of Xiangjiang Chinese capital.

According to the habit of the Hong Kong government, when there is a mistake, ask the UK for advice and use the taxpayer's money to invite experts from London.

However, Xiangjiang has solved the banking crisis in Xiangjiang with its own strength and wisdom and formed a new banking supervision scheme. Do you want to invite experts from London? The result is obvious that taxpayers' money is not so wasted!

It is a simple truth that whoever can solve the trouble will get the right to speak.

If the Xiangjiang banking crisis was solved by Xiangjiang itself in the early 1980s, so that the ghost guys didn't respond, then in the next Hong Kong dollar crisis, Gao Xian put forward a solution and put it into practice, which was very effective, so that the ghost guys finally woke up. The invisible leadership they had developed for a long time was lost, and the Chinese elites in Xiangjiang had their own backbone, When you are in trouble, you may no longer habitually ask the patriarch for help.

Under such circumstances, it has become the most effective and direct action plan to regain invisible leadership for Sir Gao to roll down from the throne of president of Xiangjiang exchange fund authority.

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However, we all belong to smart people. In 1984, the first year of the establishment of the Xiangjiang exchange fund authority, we found fault with our nose and eyes. It was pure self exposure and even disgusted by onlookers; By 1985, the Xiangjiang exchange fund authority was on the right track. The mission of stabilizing the Hong Kong dollar had been completed. It should make further achievements and be picky.

Of course, Gao Xian, who was in the center of the vortex, had long been aware of this treachery, but he had a bottom in his heart and could be at ease.

As the saying goes, cultivating one's morality, unifying one's family, governing the country and calming the world, Gaoxian must have higher personal pursuit, and then these contradictions are inevitable. Just take it lightly.

Every major decision made by Gao Xian in his position as president of the Xiangjiang exchange fund authority has subtlety that secretly conforms to the general trend. Those who want to bite him hard show their teeth at most and dare not speak.

There is an example in front of us. The real estate mortgage-backed securitization proposed by Gao Xian was not without resistance in the process of promotion, but it was soon stepped on by more stakeholders.

In reporting on the progress, Li Guobao made a joke and mentioned a phenomenon.

After seeing the bill, several ghost members of the Legislative Council of the Hong Kong government immediately questioned the motivation of the Xiangjiang exchange fund authority's claim, just to increase the scale of assets through bonds and obtain a stable income through bond interest.

As a result, the banks in Xiangjiang ignored this bullshit and had impure motives. They packaged mortgage loans into bonds and sold them to Xiangjiang exchange fund. It was very considerate to be able to obtain considerable working capital while meeting the rigid regulatory index of capital adequacy ratio.

Besides, Xiangjiang has entered a transitional period. A large number of mortgages lie on the bank statements, which also makes people feel a waste of resources.

Those ghost councillors didn't jump a few times, they didn't have strength.

Gao Xian also laughed. These guys thought I had made a military order, so they took the fly legs as meat.

Among the real estate mortgage loans in Xiangjiang banking industry, the most stable scale of residential mortgage is about HK $30 billion. When the legislation is passed by the Legislative Council, I really can't see it in my eyes.

Li Guobao asked for instructions: "at present, the banking sector is very concerned about a question. Does the securitized real estate mortgage loan include the part spanning 1997?"

"Is the real estate mortgage loan spanning 1997 so special? Of course, it can also be securitized! You can pass on this attitude and satisfy the appetite of banks and the market." Gao Xian answered leisurely, "However, in the initial stage of real estate mortgage-backed securitization, we should not take too big steps. We should first select real estate mortgage loans with excellent qualifications within 10 years, package them into bonds and start operation. When everything is mature and on the right track, we will expand the scale and scope."

Li Guobao nodded and then turned to another topic. "All parties, including Zhengfu and banks, have no objection to the establishment of a public limited company wholly owned by the exchange fund to develop Xiangjiang's second mortgage market. Sir Gao, please give this company a name."

"The name is simple and clear." Gao Xian thought a little, "just call Xiangjiang Mortgage Securities Co., Ltd."

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