Monetary Authority of Macao


Monetary Authority of Macao
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The Monetary Authority of Macao (Portuguese: Autoridade Monetária de Macau, abbr. as AMCM; 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).

Contents

History

It was formerly known as the "Monetary and Foreign Exchange Authority of Macao" (Portuguese: Autoridade Monetaria e Cambial de Macau, abbr. as AMCM), which was created on July 1, 1989.

According to decree-law no. 14/96/M of 11 March, the Monetary Authority of Macao carries the following major statutory duties:

  • 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;
  • To monitor the stability of the financial system.

Offices

  • St. Raphel's Hospital from 1990-1999 - now Consulate-General of the Portuguese Republic in Macao
  • 24-26 Calçada do Gaio, San Lorenzo (and the former Convent of the Precious Blood or Convento do Precioso Sangue) 1999-present - next to Escola Leng Nam

Chairman, Monetary Authority of Macao

  • Anselmo Teng (丁連星)

See also

External links


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