Hang Lung Bank

Hang Lung Bank (Chinese: 恆隆銀行) was a bank in Hong Kong. It is now merged to DBS Bank (Hong Kong). On September 1982, a bank run happened on Hang Lung Bank after the collapse of Che Lee Yuen Jewellery & Goldsmith Company and the spread of rumours. But the run subsided on the second day. On September 1983, the level of deposits in the bank was below the level after adjusting for the valuation effect of the depreciation of the Hong Kong dollar. On 27 September 1983, the Legislative Council passed the "Hang Lung Bank (Acquisition) Ordinance Bill 1983" and the British Hong Kong Government decided to take over the bank. This ensured HK$148 million worth of cheques could be returned to the bank to meet its clearing.

Hang Lung Bank

Hang Lung Bank (Chinese: 恆隆銀行) was a bank in Hong Kong. It is now merged to DBS Bank (Hong Kong). On September 1982, a bank run happened on Hang Lung Bank after the collapse of Che Lee Yuen Jewellery & Goldsmith Company and the spread of rumours. But the run subsided on the second day. On September 1983, the level of deposits in the bank was below the level after adjusting for the valuation effect of the depreciation of the Hong Kong dollar. On 27 September 1983, the Legislative Council passed the "Hang Lung Bank (Acquisition) Ordinance Bill 1983" and the British Hong Kong Government decided to take over the bank. This ensured HK$148 million worth of cheques could be returned to the bank to meet its clearing.