Describe the type of banking in Hong Kong prior to 1964
Banking Ordinance:  Prior to the 1964 re-regulations, the government had no way to control bank's monetary effect on the economy. Laissez-faire: Laissez-faire ( ; ] ; from French: "laissez faire" , 'let do' ) is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies.
transactions between private parties are free from government intervention