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  • November 26, 2014
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  1. A sense of security

    Posted Dec 18th 2008, 12:00am by Christine Loh

    ... be the equivalent of the government guaranteeing all bank deposits in Hong Kong: that was the right thing to do because it made people feel safe to leave their money in banks. In one stroke, the government removed the potential for panic. It did not actually have to spend a cent in giving the guarantee, but the move generated trust and stability in the banking system- just what was needed ...

  2. Bank deposit protection not the whole answer

    Posted Oct 06th 2008, 12:00am by Staff Reporter

    ... Deposit protection for Hong Kong bank customers followed the 1998 Asian financial crisis. No locally licensed banks failed then, though we might never know how close any came. The Hong Kong Monetary Authority backed the idea, but it so bitterly divided banks that it was not introduced until 2006. Now, just two years later, pressure is building to raise the cap on our deposit ...

  3. 100pc bank deposit insurance urged

    Posted Oct 14th 2008, 12:00am by Staff Reporter

    ... Ng Kang-chung Calls are mounting for better protection of private savings deposited in local banks to help restore public confidence in the banking system. Lawmaker Cyd Ho Sau-lan, ... In the Asia-Pacific region, Australia, New Zealand and Taiwan are offering blanket deposit protection for bank savers. 'The government should help boost confidence in the banking system,' Ms Ho ...

  4. HK guarantees all bank deposits

    Posted Oct 15th 2008, 12:00am by Staff Reporter

    ... Maria Chan Blanket protection for savers, recapitalisation fund set up to boost faith in city banks The Hong Kong government will guarantee all bank deposits for two years and provide more ... guarantee the deposits of all 28 local banks, amounting to about 228.4 billion patacas. Hong Kong Monetary Authority chief executive Joseph Yam Chi-kwong said the fact other governments had already ...

  5. Bank glitch hits 16,000 accounts

    Posted Mar 18th 2008, 12:00am by Danny Mok

    ... Danny Mok About 12,600 customers of Fubon Bank (Hong Kong) were deprived of interest payments of up to HK$26,000 due to a 'technical design error' in a computer program. The miscalculation was found in the bank's call deposit accounts in a review triggered when a branch staff member discovered mistakes in interest paid to an account in February, the bank said yesterday. ...

  6. Calls widen for rise in deposit insurance cap

    Posted Oct 06th 2008, 12:00am by Staff Reporter

    ... Maria Chan Bank depositors are likely to join a clamour for an increase in the HK$100,000 ceiling in Hong Kong's deposit insurance scheme following last month's run on the Bank ... of depositors who want to withdraw their money from banks due to such unfounded rumours,' said Sin Chung-kai, a vice-chairman of the Democratic Party. The deposit protection scheme, launched ...

  7. Banking on time deposits

    Posted Sep 23rd 2008, 12:00am by Staff Reporter

    ... deposit and withdraw is not cash, but time. Based on a concept first raised in the US in the 1980s, TimeBank is an innovative form of volunteerism based on the structure of a commercial bank. Bank ... to cope with chaos. But there will always be winners amid such despair- and Mashi Blech might be one of them. Ms Blech runs two bank branches in New York, with the first opening at the end of 2006 ...

  8. Bank sued over HK$59m deposit

    Posted Sep 27th 2008, 12:00am by Staff Reporter

    ... Peter Brieger Well-known horse owner Eugene Chuang Yue-chien has sued Bank of East Asia to retrieve a HK$59 million deposit that he paid as collateral for a bank loan, according to a writ filed in the High Court this week. The collateral was no longer required under Mr Chuang's contract with the bank, but it had not promptly released the funds, the writ said. No other ...

  9. Deposit protection may encourage banks to take more risks, academic warns

    Posted Oct 15th 2008, 12:00am by Staff Reporter

    ... Natalie Chiu The use of the Exchange Fund to provide full deposit protection may generate moral hazards as it will give incentives for banks to take more risks in order to earn higher ... by a deposit insurer or other government bodies. However, a government source said central banks had reached a consensus that efforts were needed to shore up financial institutions at this time ...

  10. Banks for umbilical cord blood see deposits grow

    Posted Jul 29th 2008, 12:00am by Joyce Man

    ... Joyce Man Despite debate over whether umbilical cord stem cells can be used to treat diseases, Hong Kong's three storage banks are reporting high growth rates as parents opt ... using private cord blood banks from 5,800 to 9,500, figures provided by the banks show. Cord blood banks collect blood from a newborn's umbilical cord and store stem cells extracted from ...




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