Annual Report 2011 - Hong Kong Monetary Authority

Loans
granted to
the Bank’s
governing
bodies
2011 2010
Guarantee
commitments
on behalf
of the Bank’s
governing
bodies
Loans
granted to
the Bank’s
governing
bodies
Guarantee
commitments
on behalf
of the Bank’s
governing
bodies
15 Loans granted to the Bank’s governing bodies
Guarantee commitments on behalf of the Bank’s governing bodies
Remuneration paid to the Bank’s governing bodies
(in thousands of CHF)
Board of Directors 37,917 21 39,671 82
Baron Benjamin de Rothschild Chairman 37,637 - 37,435 -
E. Trevor Salathé Vice-Chairman - - - -
Manuel Dami Secretary 280 21 280 61
Baroness Benjamin de Rothschild - - - -
John Alexander - - - -
Luc J.Argand - - - 21
Walter Blum Gentilomo - - - -
Michel Cicurel - - - -
François Hottinger - - - -
Veit de Maddalena - - - -
Klaus Jenny - - - -
Jacques-André Reymond - - - -
Daniel Yves Trèves - - 1,956 -
Jean Laurent-Bellue - - - -
Guy Wais - - - -
Executive Committee 901 115 800 97
Philippe Currat 626 11 626 11
Internal Auditors - 31 - 30
Independent Auditors - - - -
Total 38,818 167 40,471 209
The loans in question are current account overdrafts and/or tixed-term
advances not exceeding one year, either unsecured or secured (by securities
pledged with the Bank), and floating- or fixed-rate mortgage loans.
Mortgage interest is charged at the usual market rates. However, as in the
case of loans granted to Bank employees, members of the governing
bodies receive a 25% rebate on the applicable interest rate up to a
maximum amount of CHF 750,000 per borrower.
(Note 15 cont’d next page)
At 31 Dec. 2011 the relevant mortgage rates ranged from 2% to 3%
and the interest rates charged on lombard loans from 1.5% to 3.5% in
the major currencies. The value of loans granted to members of the
Executive Committee totalled 901 (in thousands of CHF). The value of
loans granted to executive members of the Board of Directors amounted
to 37,917 (in thousands of CHF).
FINANCIAL REPORT BPER ACCOUNTS 121