The Hong Kong Deposit Protection Board (the Board) today (Friday) published its Annual Report for 2013-2014. The Report reviews the operations of the Deposit Protection Scheme (DPS) during the year and highlights the Board’s plans for 2014-2015.
The key achievements made during the year include:
- Completed a comprehensive internal review for enhancing the effectiveness of the DPS which was assessed by the International Monetary Fund as a transparent and trusted scheme.
- Total deposits covered by the DPS increased to HK$1,637 billion, with 90% depositors fully covered by the DPS protection limit at HK$500,000.
- Enhanced deposit information submission requirements for Scheme members and strengthened contingency arrangements and early warning mechanisms for responding to different crisis scenarios.
- Launched innovative publicity and public education campaigns to promote understanding and awareness of the DPS. Public awareness of the DPS remained high at 77%.
The Hong Kong Deposit Protection Board’s Annual Report 2013-2014 is available on the Board’s website (www.dps.org.hk).
Hong Kong Deposit Protection Board
18 July 2014