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  1. Changes urged to bank disclosure tack on deposit protection cover

    Posted Aug 19th 2009, 12:00am by Staff Reporter

    ... Maria Chan Banks must tell customers whether their accounts or the transactions they conduct are covered by the deposit protection scheme to strengthen disclosure, the Hong Kong Deposit Protection Board suggested yesterday. The government-appointed board also recommended simplifying the process of calculating accrued interest on deposits and liabilities in the event of a bank ...

    http://www.scmp.com/article/690139/changes-urged-bank-disclosure-tack-deposit-protection-cover
  2. Business - Comment - JAKE'S VIEW

    Beware of bankers under the influence of bonuses

    Posted Jan 10th 2013, 12:00am by Jake Van Der Kamp

    ... to this question, here is another: Why haven't you come to the same conclusion about your bank? At one time you yourself were the safeguard of your deposits. You didn't put money ... and you might not know what banks you could trust. They therefore came up with the concept of deposit insurance. If your bank fails your deposits will be safe. The insurance will cover what ...

    http://www.scmp.com/business/article/1124112/beware-bankers-under-influence-bonuses
  3. Raise deposit protection to HK$500,000, board says

    Posted Apr 28th 2009, 12:00am by Enoch Yiu

    ... Enoch Yiu and Maria Chan A government agency has proposed lifting the ceiling on Hong Kong's bank deposit protection to HK$500,000. As reported by the South China Morning Post last ... that is cost-effective, provides protection for depositors and prevents moral hazard in banking,'' Mr Li said. The deposit insurance scheme, launched in 2006 and funded by the banks, offered up ...

    http://www.scmp.com/article/678387/raise-deposit-protection-hk500000-board-says
  4. The gaping hole in HK's blanket deposit guarantee

    Posted Nov 13th 2008, 12:00am by Tom Holland

    ... with Tom Holland If you think your Hong Kong bank deposits are fully guaranteed under the blanket deposit protection scheme announced last month by Financial Secretary John Tsang Chun-wah, ... customer deposits' held in the city. Rattled by September's run on the Bank of East Asia and unnerved that the scheme had previously covered only combined deposits of up to HK$100,000 ...

    http://www.scmp.com/article/659883/gaping-hole-hks-blanket-deposit-guarantee
  5. Safe deposit box rules unfair, says watchdog

    Posted Nov 16th 2004, 12:00am by Vivienne Chow

    ... The Consumer Council yesterday criticised banks for providing harsh contract terms for safe deposit boxes and insufficient relevant information for customers. The criticisms came after a council's survey found 16 of the 21 banks approached contained statements in their contracts on safe deposit boxes that they would not be liable for any loss or damage. The survey - conducted ...

    http://www.scmp.com/article/478279/safe-deposit-box-rules-unfair-says-watchdog
  6. Top banks raise deposit rates

    Posted Apr 08th 2005, 12:00am by Louis Beckerling

    ... Louis Beckerling Hong Kong's top four deposit-taking banks have raised interest rates offered on fixed-term deposits, but, even after adjustments ranging from five to 25 basis points, the new rates remain well below those offered by smaller banks. The biggest bank, HSBC, lifted its fixed deposit rates by 25 basis points across the board. It raised annualised interest paid ...

    http://www.scmp.com/article/495799/top-banks-raise-deposit-rates
  7. Business - Banking & Finance - BANKING

    Rising rents see banks reluctant to offer safe deposit boxes

    Posted Sep 17th 2012, 12:00am by Enoch Yiu

    ... cost of real estate makes banks reluctant to expand the service. A banker, who declined to be named, said banks did not want to install more safe deposit boxes as it was not a profitable business. "The rent in Hong Kong is so high that bank branch areas are very valuable," the banker said. "Deposit boxes take up a lot of space, so this is a type of business ...

    http://www.scmp.com/business/banking-finance/article/1038682/rising-rents-see-banks-reluctant-offer-safe-deposit-boxes
  8. 'Heritage' mansion perfect for a dim sum tourist hang-out

    Posted Sep 05th 2010, 12:00am by Jake Van Der Kamp

    ... depositors. If the bank in which they make their deposits goes bust they will still be the first to get their money back, after wages and taxes are paid, but they will not be guaranteed full payment ... They nationalise one side of that balance sheet by guaranteeing deposits. The depositors then don't really care in which bank they place their deposits. These deposits are safe. All they look ...

    http://www.scmp.com/article/723878/heritage-mansion-perfect-dim-sum-tourist-hang-out
  9. 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 ...

    http://www.scmp.com/article/655188/bank-deposit-protection-not-whole-answer
  10. Interest cut for elderly prompts warnings

    Posted Aug 09th 2004, 12:00am by Elaine Wu

    ... with banks.' Iman Fok Tin-man, an organiser at the Society for Community Organisation, said most of the elderly she had helped kept their money in fixed-deposit accounts. 'Many elderly rely ... special interest rates to the elderly. The Bank of China is the only one that continues to do so. Anyone who is 55 years or older and has a fixed-deposit account of $30,000 or more can qualify ...

    http://www.scmp.com/article/465924/interest-cut-elderly-prompts-warnings

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