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Monetary Authority of Macao |
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Monetary Authority of Macao
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The Monetary
Authority of Macao (Portuguese: Autoridade Monetária de Macau, abbr. as AMCM;
traditional Chinese: 澳門金融管理局) is a regulatory institution established on
December 20, 1999, upon the transfer of the sovereignty of Macau from
Portugal to the People's Republic of China as the Macau Special
Administrative Region (MSAR). |
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The autonomy,
all functions and responsibilities of the AMCM remain unchanged. In
addition, the Macao SAR Government assigned to the AMCM the additional
responsibility of managing the reserve fund of the Macao SAR effective from
April 1, 2000. The AMCM now supervises monetary and financial operations
according to the terms established in the regulatory statutes governing each
respective area. It also advises the SAR Government on policies which
facilitate the sustainability of the long-term growth of the financial
sector and thereby achieving the purpose of long-term financial stability
and development. Besides, the AMCM is prepared for streamlining the legal
framework as well as adopting international best practices for the
development of Macao as a financial services centre. |
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It is also responsible for
monitoring the external solvency of the local currency, the pataca, and
ensuring the currency's full convertibility.
Monetary Authority of Macao's functions have evolved
to include the following:
 to advise
and assist the Chief Executive in formulating and applying monetary,
financial, exchange rate and insurance policies;
to guide,
co-ordinate and oversee the monetary, financial, foreign exchange and
insurance markets, ensure their smooth operation and supervise the actions
of those operating within them according to the terms established in the
regulatory statutes governing each respective area;
to monitor
internal monetary stability and the external solvency of the local currency,
ensuring its full convertibility;
to
exercise the functions of a central monetary depository and manage the
territory's currency reserves and other foreign assets; and
to monitor
the stability of the financial system.
Monetary Authority of Macao is responsible for
achieving the monetary policy objective in Macau, including determining the
strategy, instrument and operational means for doing so, and for maintaining
the stability and integrity of the monetary system of Macau.
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Monetary Authority of Macao |
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HQ
Address: |
Calçada do
Gaio
No. 24 - 26
Macau |
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Tel: |
+853 2856
8288 |
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Fax: |
+853 2832
5432 |
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Website: |
www.amcm.gov.mo |
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Swift Code: |
MFAMMOMX |
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Currency: |
Pataca |
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Banking Hours: |
Monday - Thursday : 9:00 -
17:45
Friday : 9:00 - 17:30 |
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At present, there are 28 banks in Macao, out of which 12 are locally
incorporated (including the postal savings office) and 16 are branches of
overseas banks. With the exception of two off-shore banks, all the banks in
Macao are retail banks with full banking license. |
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List of banks governed by the
Monetary Authority of Macao |
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Banks incorporated in Macau |
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» Tai Fung Bank Limited |
» China Construction Bank
(Macau) Corporation Ltd |
» Banco Espírito Santo Asia
Limited |
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» Wing Hang Bank Limited |
» Industrial and Commercial Bank
of China (Macau) |
» Banco Nacional Ultramarino, |
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» Banco Delta Asia Limited |
» Luso International Banking
Limited |
» The Macau Chinese Bank Ltd |
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» Banco Comercial de Macau |
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Branches of banks
incorporated outside of Macau |
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» HSBC |
» Standard Chartered Bank |
» Industrial and Commercial Bank
of China Ltd |
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» DBS Bank (Hong Kong) Limited |
» Guangdong Development Bank
Co., Ltd |
» Hang Seng Bank Limited |
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» Bank of China Limited |
» Bank SinoPac Company Limited |
» CITIC Ka Wah Bank Limited |
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» BNP Paribas |
» Chong Hing Bank Limited |
» Banco Comercial Português, S.A. |
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» Citibank, N.A. |
» The Bank of East Asia Limited |
» Banco BPI, S.A. |
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