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  • September 20, 2014
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  1. Student loan agency criticised over HK$608m in default arrears

    Posted Nov 26th 2009, 12:00am by Elaine Yau

    ... or 15 per cent, provided inaccurate information. Examples included understating salary amount and failing to declare bank deposits or assets. Because of the inaccurate information, the agency ...

  2. Business - Banking & Finance - BANKING

    China to set up deposit insurance to protect savings in banks as risks rise

    Posted Jun 24th 2013, 12:00am by JANE CAI

    ... of the world's second-largest economy. Under a deposit insurance system- already in place in more than 100 countries- commercial banks are required to deposit a portion of their funds into a deposit ... and to protect more than 99 per cent of deposit accounts. Outstanding deposits in banks on the mainland reached 102 trillion yuan at the end of last month, according to the central bank. In the early ...

  3. 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 ...

  4. Business - Banking & Finance

    China's deposit protection plan ready to go

    Posted Jan 14th 2014, 01:41am by JANE CAI

    ... Jane Cai in Beijing xuejun.cai@scmp.com Deposit protection plan ready to roll out China is closer to launching a deposit insurance system to protect savers against the risk of bankruptcy at a time when the banking sector is rolling out the welcome mat for more private sector investment. People's Bank of China, the central bank, said last week that "preparations ...

  5. Business - Banking & Finance

    EU draft bank rescue law would not shield big deposits

    Posted May 21st 2013, 11:10am by Reuters

    ... to save the country from bankruptcy. Under the EU proposal, a bank would dip into large deposits of over 100,000 euros once it had exhausted other avenues such as shareholders and bondholders. ... a press release from the committee said after the vote. Some countries have also mooted the idea of using banksdeposit guarantee schemes. But lawmakers voted against this because it could hurt ...

  6. News - Hong Kong - COURTS

    'Catch me if you can' Cathay pilot has bank account frozen until divorce payment made

    Posted Aug 28th 2014, 04:56am by JULIE CHU

    ... of maintenance in a transpacific divorce battle spanning more than 14 years, a court heard yesterday. Scott Henderson would be blocked from taking money from the bank account his salary was deposited ... of more than HK$160,000, only after a C$9,774 monthly payment was deducted for his ex-wife. However, she complained that he still managed to take out almost his entire salary from his bank account ...

  7. 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 ...

  8. Business - Money - INVESTMENT

    Chinese mutual funds caught up in shadow banking fallout

    Posted Aug 25th 2014, 03:34am by Daniel Ren

    ... institutions dealing directly with deposit and lending business. Those unable to secure banking loans have resorted to the shadow banking system to obtain funds, offering investors higher returns than those offered by bank deposits. "The scandals brought the CSRC in because it was forced to step up the policing of fund management companies," said Howhow Zhang, the research head ...

  9. Business - Banking & Finance

    PBOC boss says deposit rate liberalisation to take up to two years

    Posted Mar 12th 2014, 02:18am by Victoria Ruan

    ... People's Bank of China governor Zhou Xiaochuan says the liberalisation of deposit rates will be the last step in the reform of the mainland's interest rate regime and is likely to be achieved ... plan, for the period 2011 to 2015. Granting banks complete flexibility in determining returns on savings deposits will introduce more competition and greater risk to the banking system. Big ...

  10. Comment - Insight & Opinion - LEADER

    Removing chains on deposit rates will free capital for more efficient use

    Posted Mar 16th 2014, 03:33am by SCMP Editorial

    ... that People's Bank of China Governor Zhou Xiaochuan envisages a time frame for the last, vital step- the liberalisation of deposit rates. Speaking on the sidelines of the NPC meeting, Zhou said ... on official deposit rates that has created a huge, unregulated shadow banking sector. With an unattractive official deposit rate, distrust of the stock market and wariness of a property bubble, ...




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