Hong Kong Regulations

BANKING (DISCLOSURE) RULES - SECT 15

Group-wide disclosures made by parent bank of authorized institution

An authorized institution may treat disclosures (referred to in this
section as "foreign disclosures") made by its parent bank, if any, as
being part of the disclosures (referred to in this section as "local
disclosures") the institution is required to make pursuant to these Rules if
the institution demonstrates to the satisfaction of the Monetary Authority
that—

   (a)  the foreign disclosures are not materially different from the
        local disclosures;

   (b)  the foreign disclosures are prepared in accordance with the relevant
        principles of the document entitled "International Convergence of
        Capital Measurement and Capital Standards: A Revised Framework
        (Comprehensive Version)" (published by the Basel Committee on Banking
        Supervision in June 2006) adopted by the relevant banking supervisory
        authority of the parent bank;

   (c)  the characteristics of the institution's relevant risk exposures
        subject to requirements of these Rules are not materially different
        from those of the relevant risk exposures of the parent bank;

   (d)  the foreign disclosures provide a sufficient level of detail on the
        range of risks incurred by the institution and on how those risks are
        managed to permit third parties to form a considered view of the
        relevant aspects of the institution's operations;

   (e)  the disclosure statement of the institution contains a statement of
        the location where all the foreign disclosures can be found;

   (f)  the foreign disclosures are set out on an Internet website of the
        parent bank which is accessible by the general public; and

   (g)  the institution has a Hong Kong Internet website which contains a link
        to the parent bank's Internet website referred to in paragraph (f).