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  • November 25, 2014
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  1. 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. ...

    http://www.scmp.com/article/630430/bank-glitch-hits-16000-accounts
  2. Business - Economy

    Last-minute deal resurrects Cyprus bailout

    Posted Mar 25th 2013, 10:22am by AFP

    ... of Cyprus, the island’s No.1, will take a major “haircut”-- a forced wipeout of investment value, on all deposits of more than 100,000 euros. The Bank of Cyprus, with one third of all holdings, survives, but at a massive price for investors-- and the bank holds most of the island’s offshore Russian deposits. But the new agreement backs off from last week’s collapsed deal to hit all savers ...

    http://www.scmp.com/business/economy/article/1199303/last-minute-deal-resurrects-cyprus-bailout
  3. Bankers' losses covered, profits are theirs to keep

    Posted Apr 13th 2010, 12:00am by Jake Van Der Kamp

    ... is our money? It was guaranteed. Don't laugh. This is very much what we have with our government's proposal to raise deposit protection from HK$100,000 to HK$500,000 per bank per person ... with Jake van der Kamp But it will now take until 2018 to collect the HK$2.8 billion needed to insure depositors at each bank for up to HK$500,000. SCMP, April 10 Imagine ...

    http://www.scmp.com/article/711312/bankers-losses-covered-profits-are-theirs-keep
  4. Beijing mulls two-track plan for foreign banks

    Posted Jul 04th 2006, 12:00am by Staff Reporter

    ... Bei Hu Only locally incorporated operations to benefit from deposit insurance scheme China is considering a dual-track system to regulate foreign banks after the full opening of its ... that incorporate in the mainland as legal entities would be eligible for the protection of the deposit insurance scheme, said Liu Mingkang, chairman of the China Banking Regulatory Commission. Until now, ...

    http://www.scmp.com/article/555336/beijing-mulls-two-track-plan-foreign-banks
  5. 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 ...

    http://www.scmp.com/article/655214/calls-widen-rise-deposit-insurance-cap
  6. Smaller mainland banks struggle for deposits

    Posted Apr 04th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Pulling in deposits continued to be a struggle for mainland banks in the first two months of the year, according to bankers and analysts. Lenders, especially ... that offer much higher returns. The president of China Merchants Bank, Ma Weihua, speaking at the Boao Forum, said that mainland lenders continued to face challenges in attracting deposits. Liu ...

    http://www.scmp.com/article/997385/smaller-mainland-banks-struggle-deposits
  7. Banks push up deposit rates after rate cut

    Posted Jun 09th 2012, 12:00am

    ... Jane Cai in Beijing, Anita Lam and George Chen Big mainland banks yesterday responded to an official cut in lending rates by raising deposit rates, underscoring intensifying competition as the central bank edges towards interest rate deregulation. In the first rate cut since 2008, the People's Bank of China on Thursday cut the benchmark one-year lending and deposit rates by 25 ...

    http://www.scmp.com/article/1003425/banks-push-deposit-rates-after-rate-cut
  8. Business - Banking & Finance

    Banks need a deposit protection scheme

    Posted Sep 01st 2012, 12:00am by Daniel Ren

    ... Daniel Ren in Shanghai ren.wei@scmp.com Bank chairman makes remarks amid fears of deteriorating asset quality of lenders Banks need a deposit protection scheme The mainland needs to establish a deposit insurance system as it liberalises its interest rate regime, Bank of Shanghai chairman Fan Yifan said yesterday. The remarks by Fan, who is also a vice-president ...

    http://www.scmp.com/business/banking-finance/article/1027327/banks-need-deposit-protection-scheme
  9. Banker pilfered account to pay for hair treatment

    Posted Apr 26th 2007, 12:00am by Staff Reporter

    ... Chandra Wong A bank assistant stole from a customer's account to pay for expensive anti-baldness treatment because he was terrified of losing his hair, a court heard yesterday. Alex Chan Choi-kei, who appeared in Eastern Court with a full head of hair, pleaded guilty to stealing more than HK$355,000 from the account at the DBS Bank. Remanding him in custody until May 17 ...

    http://www.scmp.com/article/590410/banker-pilfered-account-pay-hair-treatment
  10. 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 ...

    http://www.scmp.com/article/653635/banking-time-deposits

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