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515.5995

Guidelines & Circulars

Our Ref:
B1/1C
B9/67C

12 February 2009

The Chief Executive
All Authorized Institutions

Dear Sir/Madam,

Complaints Against Debt Collection Agents
Employed by Authorized Institutions

I write to inform you of the results of the industry survey on complaints against debt collection agents (DCAs) employed by authorized institutions (AIs) for the fourth quarter of 2008. Please see the Annex for details.

During the reporting period, 38 AIs used the services of DCAs. They together assigned 91,457 accounts to 24 DCAs.

A total of 15 complaints against 9 DCAs were received by 10 AIs (compared with 25 complaints against 7 DCAs received by 10 AIs in the previous quarter). The incidence of complaints per 1,000 accounts assigned decreased to 0.16 from 0.28 in the previous quarter. One complaint was lodged by an unrelated third party, compared with 3 in the previous quarter.

No instance of a breach of the Code of Banking Practice was reported during the quarter compared with 1 in the previous quarter.

Yours faithfully,
Karen Kemp
Executive Director (Banking Policy)

c.c.
The Chairman, Hong Kong Association of Banks
The Chairman, The DTC Association
Secretary, Code of Banking Practice Committee
(Attn: Ms Jennifer Cheung - HKAB)
Secretary for Financial Services and the Treasury
(Attn: Miss Clara Chan)

Annex

Survey on DCA complaints received by AIs - Q4/2008

Table 1: AIs using DCA service

Q4/2008 Q3/2008 Q2/2008 Q1/2008 Q4/2007
AIs receiving DCA complaints 10 10 7 10 11
AIs receiving no DCA complaints 28 29 33 30 28
Total 38 39 40 40 39

Table 2: Number of DCAs employed by AIs

Q4/2008 Q3/2008 Q2/2008 Q1/2008 Q4/2007
1 - 5 19 20 22 23 21
6 - 10 15 17 16 14 15
11 - 15 4 2 2 3 3
Total 38 39 40 40 39

Table 3: Incidence of DCA complaints

Q4/2008 Q3/2008 Q2/2008 Q1/2008 Q4/2007
DCA complaints received (A) 15 25 20 30 21
Accounts assigned (B) 91,457 88,144 86,244 73,724 73,220
Incidence of complaints per 1,000 accounts (C = A/B x 1,000) 0.16 0.28 0.23 0.41 0.29

Table 4: Status of complainants

Q4/2008 Q3/2008 Q2/2008 Q1/2008 Q4/2007
Debtors 13 17 16 21 17
Family members/friends 1 5 3 4 3
Referees 0 0 0 0 1
Unrelated third parties 1 3 1 5 0
Total 15 25 20 30 21
Last revision date: 1 August 2011
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