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  1. Deposit protection body eyes spot checks on banks

    Posted Jul 06th 2009, 12:00am by Staff Reporter

    ... Maria Chan The government-appointed Hong Kong Deposit Protection Board wants the power to make spot checks on banks in the wake of the Lehman Brothers minibond scandal. The proposal ... had made proper representations to customers about whether or not their money was covered by the deposit protection scheme. 'Our staff could test the banks' sale process without ...

  2. PBOC considers deposit insurance

    Posted Feb 11th 2004, 12:00am by Staff Reporter

    ... the mainland's Big Four state banks. Central bank officials declined to comment yesterday. Analysts said the FDIC, which guarantees individual deposits of up to US$100,000, would be a hard model ... in the US, where most savings are held by individuals, more than 60 per cent of the US$1.3 trillion deposited in mainland banks are held by state companies in large accounts. Another problem ...

  3. Why banks can't afford to lose interest of depositors

    Posted May 31st 2009, 12:00am by Alan Alanson

    ... Alan Alanson The second part of a series on financial products and practices takes a swipe at banks Deposit rates in Hong Kong have fallen to a remarkable 0.01 per cent, and one bank has ... I would earn interest. Now it seems like I am just doing the bank a favour by letting them hang on to my money. Why so? Is taking deposits just a service the bank provides us, or do banks actually ...

  4. Should people take their savings out of the bank?

    Posted Nov 05th 2008, 12:00am by Anthea Wong, Ronald Ling

    ... to put their savings in the bank. But in the current economic environment, with very low interest rates on deposits, it is better to take their savings out. The interest rates are very low now ... money out of the banks will not help. In fact, it might make the entire system collapse. Banks are required to hold a portion of deposits as reserves. When people start withdrawing all ...

  5. Business - China Business - LAW

    Hong Kong investors at a disadvantage when firms with assets in China go bankrupt

    Posted Apr 03rd 2014, 03:07pm by Enoch Yiu

    ... million as deposits in Hong Kong that could be frozen under the injunction. Most of its assets are held on the mainland by the subsidiary that has now started bankruptcy proceedings in a mainland ... at Pinsent Masons in Hong Kong, said while Hong Kong bankruptcy proceedings are transparent for all banks and regulators, mainland bankruptcy procedures under the Enterprise Bankruptcy Law are more ...

  6. Nervous banks squeeze yoga centres' funds

    Posted Jan 17th 2011, 12:00am by Amy Nip

    ... months has made banks lose faith in yoga centres and other service industries. They are demanding large security deposits, or collateral, from such businesses- to compensate customers who pay fees in advance using the banks' credit cards, should the businesses close down. Yet yoga industry veterans warn that these security deposits are causing a vicious cycle ...

  7. Buyers misread policy targets

    Posted Sep 17th 2008, 12:00am by Louis Beckerling

    ... the country's central bank on Monday that it would cut the cost of lending and ease reserve requirements on banks. But investors who took a punt on property counters in the belief that the government was about to relax measures aimed at hosing down demand and prices could be disappointed. The consensus among analysts in the wake of the People's Bank of China's announcement ...

  8. Banking system sound, but no harm bolstering it

    Posted Sep 25th 2008, 12:00am by Staff Reporter

    ... have been if it were really in trouble. Still, now may be the time to consider measures to shore up confidence in our banking system. Bank deposits of up to HK$100,000 are protected by law, ... A run on the Bank of East Asia by small depositors yesterday shows how nervous people have become amid the global financial turmoil. Given the current market conditions, people are easily ...

  9. Have the banks learned their lesson after minibond fiasco?

    Posted Mar 29th 2011, 12:00am by Enoch Yiu

    ... Enoch Yiu Sixteen Hong Kong banks on Sunday offered to pay back Lehman minibond investors up to 96.5 per cent of their investments. While this may provide some relief to those who got burned with minibonds, it fails to address the questions about mis-selling in the banking industry that refuse to go away. The latest offer follows the banks' July 2009 proposal ...

  10. BEA given negative outlook after bank run

    Posted Sep 30th 2008, 12:00am by Staff Reporter

    ... Maria Chan Fitch Ratings lowered Bank of East Asia's rating outlook to negative from stable yesterday after the bank suffered a significant run on deposits last week due to rumours it faced financial difficulties. 'It is difficult to determine the level of damage incurred by the bank's franchise,' the rating agency said. But it added that BEA was financially ...




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