The replacement of HSBC $1,000 notes issued in 2000 and 2002 is working smoothly, the Monetary Authority says, adding that sufficient stocks of new $1,000 notes are available.

The Association of Banks has given advice to banks, ensuring that adequate facilities will be available for customers who wish to deposit the old series HSBC $1,000 notes or exchange them for other denominations.

The authority said the recent counterfeiting problem is restricted to HSBC $1,000 banknotes issued in 2000 and 2002. Bank staff will be trained to check for the high-quality forgeries. Advice will also be given to the public.

People who have concerns about any old series HSBC $1,000 notes in their possession can take them to their banks.