Canton Trust and Commercial Bank
Canton Trust and Commercial Bank (Chinese: 廣東信託銀行) was a Chinese bank in Hong Kong.
History
In 1965, bank runs occurred at branches of the bank after it suffered from heavy lending to property sector and fraud.[1] Runs on branches of the bank in Aberdeen and Yuen Long occurred in early February 1965.[2] The Hongkong and Shanghai Banking Corporation agreed to lend the bank HK$25 million to overcome the crisis, but despite this the bank declared bankruptcy on 8 February 1965. This caused a series of bank runs in other several small and medium banks in Hong Kong.[3][4]
See also
References
- ↑ BANK REGULATION IN HONG KONG
- ↑ "Run on Yuen Long branch of local bank". South China Morning Post. February 8, 1965. Retrieved March 7, 2018.
- ↑ Hong Kong as an International Financial Centre
- ↑ The 1965 Bank Runs
This article is issued from
Wikipedia.
The text is licensed under Creative Commons - Attribution - Sharealike.
Additional terms may apply for the media files.