章節 1036: Chapter 1036: The volume of HK$1 billion in cash
In fact, a rush to the bank has broken out in the Hong Kong banking industry, with all the banks in Hong Kong packed with depositors withdrawing their money.
The source is of course the stock market crash.
But what fuelled the rush was not the Swire Group, which has been at the centre of the storm, but the Carrian Group!
There are many banks that have lent money to the Carrian Group. When they realised that the stock market crash was coming, these banks were extremely vigilant, and when they arranged to recover their loans, they kept the matter in the strictest confidence.
Information such as which companies the banks have loaned money to and the banks' liquidity was kept secret.
But secrecy is useless.
Today at noon, the scene of the heads and senior executives of 15 banks entering the Carrian Group was captured by a reporter.
With the reporter's knowledge, he quickly identified all the heads and senior executives of these banks.
After the news spread, a large number of depositors who had withdrawn their money rushed to the banks, including HSBC, Bank of East Asia, and Hang Seng Bank.
And there are far more than 15 banks that have loan business with the Carrian Group!
As people with a heart for the matter continued to investigate, more and more banks were uncovered.
Of course, the one facing the most serious run on its deposits was undoubtedly Yue Min Finance, a finance company that can accept deposits.
The 'rumour' pointed out that Yue Min Finance had illegally loaned more than 3 billion Hong Kong dollars to the Carrian Group!
Of this 3 billion Hong Kong dollars, apart from a portion coming from Yue Min Bank in Malaysia, a lot also belonged to Hong Kong depositors!
When Xia Yu returned home in the afternoon, he could see long queues outside banks along the way whenever he passed one, even outside the doors of Jiuding Bank and Standard Chartered Bank, which had not been in the negative news at all.
This showed the extent of the panic among the people of Xiangjiang.
'Yu, Jiuding Bank is also facing a run on its deposits. Just look at the number of people queuing outside the door, and there are still people queuing up all the time. The bank may not even be able to manage the doors at midnight tonight. Do you want to take some measures?'
As they passed another branch of Jiuding Bank, Li Qian looked out of the car window and saw a long queue of people in front of the bank. She looked worried and asked Xia Yu softly.
Xia Yu gave a faint smile and said in a relaxed and natural voice, 'Qianqian, don't worry, they can't withdraw much money. Even if all the depositors withdraw their money, it won't affect the normal operation of Jiuding Bank.'
'It's not too late for me to make arrangements tomorrow.'
Xia Yu was not joking. Jiuding Bank was fundamentally different from other banks in Xiangjiang. Because Xia Yu kept injecting capital into Jiuding Bank, at the beginning Jiuding Bank relied on his own funds to support its development. Later, Jiuding Bank speculated in foreign exchange, the British pound, and so on, and made a lot of money. Even if Xia Yu temporarily withdrew this money, he would later re-inject it.
So even if all the depositors withdrew their deposits, Jiuding Bank still had liquid capital.
Seeing Xia Yu so confident, Li Qian's worries vanished, and she nodded gently without saying a word. She leaned her head against Xia Yu's shoulder, and a charming smile appeared on her pretty face.
...
Early the next morning, after Xia Yu finished breakfast, he drove to the headquarters of Jiuding Bank in Central, Hong Kong Island.
As soon as the car arrived at the entrance of the Jiuding Bank building, Xia Yu saw a crowd of people in the lobby. Fortunately, the security guards were maintaining order properly, so it didn't look chaotic.
Escorted by bodyguards, Xia Yu entered Jiuding Bank, went straight upstairs and found Liu Tianci.
'Good morning, Chairman!'
Liu Tianci was a little surprised to see Xia Yu arrive and quickly put down what he was doing to greet Xia Yu.
'Well, good morning!'
Xia Yu casually replied, and then asked straightaway, 'Tianci, how late did the run on the bank continue last night?'
Liu Tianci immediately reported: 'Chairman, there have been bank runs in all the banks in Hong Kong. Yesterday, I only told all branches to close at midnight. I had someone investigate and our bank was the one that operated the latest last night.'
'If we didn't close, I estimate that the depositors withdrawing money could have formed a line until this morning.'
'I heard from my staff that many depositors came to start queuing at four or five o'clock today.'
Xia Yu nodded slightly and asked with concern, 'How are the staff's emotions?'
Liu Tianci replied, "The staff's emotions are quite stable, but they have been busy non-stop, and I'm afraid they can't take it.'
Xia Yu nodded and thought for a moment before instructing, "Let all branches take turns, the staff's health is more important.'
Liu Tianci also had this intention in mind, so he readily agreed, 'Okay, I'll have someone implement it today.'
'However... Chairman, according to the current trend, the phenomenon of bank runs will intensify in Hong Kong. The Carrian Group has taken advantage of many small banks. Those small banks have little capital and face the risk of bankruptcy if there is a bank run. Once one bank goes bankrupt, the wave of bank runs will reach a new high again.'
'Although our bank is not short of money, I don't think we should just let our depositors withdraw their money. We should even attract more deposits against the market trend.'
Xia Yu's eyebrows rose slightly as he asked with a smile, 'What are you going to do?'
Liu Tianci immediately told him the solution he had come up with last night: 'Chairman, I have come up with a solution, but it involves a relatively high risk and requires the strong support of Aegis Security.'
'My plan is to build a transparent glass cabinet in the centre of the lobby of the headquarters, weld an iron cage outside, and put one billion Hong Kong dollars in cash inside the glass cabinet.'
'As long as people who enter our bank know that we have money, it should be enough to dispel the concerns of depositors who worry that our bank will go bankrupt.'
Xia Yu revealed a smile and praised, 'This is a good idea.'
'But have you ever calculated the approximate volume of one billion Hong Kong dollars in cash?'
Seeing that the chairman agreed, Liu Tianci perked up and immediately replied, 'Chairman, I have specifically calculated that if you put 1,000-dollar bills, the volume of one billion Hong Kong dollars would be 1.328 cubic metres.'
'If you put all 100-dollar bills, the volume of one billion Hong Kong dollars would be 11.78 cubic metres.'
Upon hearing this, Xia Yu said directly, 'Use the hundred-dollar denomination. Piled up to more than three metres high, it can give a shocking visual impact. The more this kind of run on the bank, the more it can reflect the strength of our bank.'
'Don't worry about security, I'll have Yan Shining take care of it.'
'The key now is cash, how long will it take to gather it?'
Liu Tianci said decisively, 'There is enough cash in the underground vault, it can be moved out at any time.'
Xia Yu nodded: 'That's fine. Have someone make the tempered glass cabinet and iron cage during the day today, and work overnight. Can it be completed by the time we open for business the day after tomorrow, Sunday morning?'
'Two days is more than enough!'
'Good, I'll give you all the security personnel you need, and I'll be waiting for your performance the day after tomorrow!'
'Thank you, Chairman, I promise I won't let you down!'
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