The Information System Guideline aims to provide guidance to Scheme members on the information that the Board will require a Scheme member to submit and the manner in which such information should be submitted under section 48(1) of the DPS Ordinance to facilitate the Board to determine and pay compensation to depositors in a payout.
Under section 13 of the DPS Ordinance, an overseas incorporated bank may apply to the Board for exemption from participation in the DPS if the deposits taken by the bank's Hong Kong offices are protected by a scheme with comparable level and scope of protection in its country of incorporation. The Guideline on Application for Exemption as a Member of DPS sets out the procedures and information required for applying an exemption.
Guidance on Representation Rules
The Deposit Protection Scheme (Representation on Scheme Membership and Protection of Financial Products under Scheme) Rules (the "Representation Rules") govern the representations that should be made by Scheme members regarding their membership and the protection status of their financial products under the Scheme. The Board has issued guidance to Scheme members in the form of questions and answers on several aspects of the Representation Rules.
In addition, the Board issued a guideline on the Membership Sign providing details on specifications of the application of the Membership Sign to printing and website design.
Guidance on Payment of Contribution
Scheme members are required to pay contributions in accordance with the manner specified in the Deposit Protection Scheme (Payment of Contributions, Late Payment Fees and Rebates) Rules. The Board has issued a guidance note to elaborate the payment procedures.
Return of Relevant Deposits
All Scheme members are required to report to the Board the amount of relevant deposits maintained with them annually. The Return of Relevant Deposits is designed for this purpose. Based on the information contained in the returns and supervisory ratings assigned by the Monetary Authority to Scheme members, the Board will assess the amount of contributions payable by Scheme members. Guidance is provided in the following circular, instructions and return template:
The Returns of Relevant Deposits submitted by Scheme members will be subject to regular reviews to ensure the accuracy of the information contained therein. The details of the review arrangement are set out in the following information note:
