Hong Kong proposes raising deposit insurance
Proposed change will bring the ratio of depositors being covered to 92%, regulator says
Financial authorities in Hong Kong have proposed raising the cap on deposit insurance, as well as the fees charged to financial institutions.
The Hong Kong Deposit Protection Board announced its proposal on July 13 to raise coverage from HK$500,000 ($63,970) to HK$800,000.
The revised scheme will protect 830,000 more customers, increasing the ratio of depositors being covered from 89% to 92%, according to a consultation paper.
The proposed change will bring Hong Kong’s deposit protection
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