Exchange of the Lunar New Year Snake Banknotes in Good Progress

As scheduled, the two notes issuing banks and participating banks started the exchange on 1 March 2013, which will last until 30 August 2013. Thanks to the support and cooperation on the part of the banks involved and registrants, the process has so far been smooth and orderly. To ensure proper implementation, the Monetary Authority of Macao (AMCM) has issued guidelines to banks involved for the detailed arrangement, which includes the setting up of special counters for the purpose, submitting relevant statistical information at regular intervals, procedures for appointment of authorized representatives, and reminding the banks that they are not entitled to disposing the left-over notes at their discretion. To ensure orderly completion of the application, registrants are advised to adhere to their originally selected banks and schedule, as proven by past experience. AMCM will continue to maintain close communication and contact with banks involved to ensure that the entire process will be conducted smoothly.

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