**********************************************************
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Deposit Protection Board (the Board) today (July 11) published its Annual Report for 2011-2012. The Report reviews the operations of the Deposit Protection Scheme (DPS) during the year. It also highlights the Board's plans for 2012-2013.
The key achievements made during the year include:
* Provided protection to depositors up to HK$500,000, effectively covering 90% of all depositors in full.
* Full readiness to payout by conducting payout rehearsals and monitoring the compliance with the information system requirements on depositor records maintained by member banks.
* Maintained a high public awareness level with over 75% of respondents aware of the protection under the DPS, which is conducive to the maintenance of public confidence in banking stability.
* Strong and sound corporate governance structure in line with best practice promoted by international organisations and local professional bodies as affirmed by audit review.
The Hong Kong Deposit Protection Board Annual Report 2011-2012 is available on the Board's website (www.dps.org.hk).
For press enquiries, please contact Senior Manager (Scheme Development & Communications), Raymond Tsai at 2878 1060 or Manger (Communications),Teresa Lai at 2878 1305, or email to dps_enquiry@dps.org.hk.
Ends/Wednesday, July 11, 2012
Issued at HKT 17:06
NNNN
