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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Deposit Protection Board (the Board) today (July 17) published its Annual Report for 2014-2015. The Report reviews the operations of the Deposit Protection Scheme (DPS) during the year and highlights the Board's plans for 2015-2016.
The major achievements of the Board during the year include:
- Made full preparations for the implementation of the gross payout approach and introduced other enhancements to enable faster payouts following broad support received from public consultation;
- Enhanced payout readiness by stepping up information submission requirements and closely monitoring bank compliance, and improving the payout system to support early preparation for payouts;
- Total deposits covered by the DPS increased to HK$1,716 billion, with 90 per cent depositors fully covered by the DPS protection limit at HK$500,000; and
- Mounted comprehensive publicity and community education campaigns to keep the public informed of the role and coverage of the DPS, with the public awareness level staying high at 78 per cent.
The Hong Kong Deposit Protection Board's Annual Report 2014-2015 is available on the Board's website (www.dps.org.hk).
Ends/Friday, July 17, 2015
Issued at HKT 15:34
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