The Hong Kong Deposit Protection Board (the Board) today (Friday) published its Annual Report for 2014-2015. The Report reviews the operations of the Deposit Protection Scheme (DPS) during the year and highlights the Board’s plans for 2015-2016.
The major achievements of the Board during the year include:
- Made full preparations for the implementation of the gross payout approach and introduced other enhancements to enable faster payouts following broad support received from public consultation.
- Enhanced payout readiness by stepping up information submission requirements and closely monitoring bank compliance, and improving the payout system to support early preparation for payouts.
- Total deposits covered by the DPS increased to HK$1,716 billion, with 90% depositors fully covered by the DPS protection limit at HK$500,000.
- Mounted comprehensive publicity and community education campaigns to keep the public informed of the role and coverage of the DPS, with the public awareness level staying high at 78%.
The Hong Kong Deposit Protection Board’s Annual Report 2014-2015 is available on the Board’s website (www.dps.org.hk).
Hong Kong Deposit Protection Board
17 July 2015