Hong Kong boosts depositor protection

The Hong Kong Deposit Protection Board says it will remain vigilant against threats that may arise from the slowing global economy.

Chief Executive Officer Meena Datwani said: the board will further expand its capability for crisis management of different scenarios.

“Also we will continue to keep abreast with the latest global developments in accordance with international standards, and remain vigilant in order to meet challenges as they arise in a fast-changing global economy."

It will also expand its capability for crisis management and keep abreast with the latest global developments in accordance with international standards.

The board announced its ongoing efforts in maintaining the effectiveness and efficiency of the Deposit Protection Scheme. It intends to air a new television ad and organise community education programmes to promote public understanding of the scheme's key features.

The board has also put in place effective measures for ensuring its full readiness. Regular rehearsals and simulation tests have been conducted.

The enhanced scheme was implemented in 2011 and covers 90% of all depositors.