50 Dollars HSBC

HSBC has issued Hong Kong dollars continuously since 1865, making it one of the few commercial banks in the world still functioning as a note-issuing authority under a formal currency board arrangement. The Hong Kong Monetary Authority requires all three issuing banks to hold US dollar backing at a fixed rate of 7.80 HKD before any note enters circulation — a peg that has held without adjustment since 1983.

De La Rue's involvement with HSBC Hong Kong issues stretches back decades, though the relationship has not been exclusive across all denominations and series.