Prior to the 1964 re-regulations, the government had no way to control bank's monetary effect on the economy.

[2] A Hong Kong dollar $5,000 license fee was required one-time.

[3] The law was passed on 16 October 1964 and advised by a group of senior officials from the Bank of England.

A minimum capital of HKD $5 million and liquidity ratio of 25% and limitation on loans and investments became the new requirements to open a legit institution.

It also merged the "Deposit-taking Companies Ordinance" which also required a certain capital before banks can accept deposits.