On 13 July 2023, the Hong Kong Deposit Protection Board (the Board) launched a 3-month public consultation on enhancements to the Deposit Protection Scheme (DPS). Proposed enhancements to the DPS are highlighted below:

• Protection limit – raising the protection limit from the current HK$500,000 to HK$800,000.


• Levy system – switching back to the build-up levy to cater for a higher protection limit, with the build-up levy rates kept unchanged.


• Deposit protection arrangements in the event of a bank merger – providing enhanced coverage to affected depositors for six months upon a bank merger.


• Representation regime – requiring the display of the DPS membership sign on the digital channel of Scheme members, and streamlining negative disclosure requirements on non-protected deposits for private banking customers.
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  Related documents (13 July 2023)
  
  
• Press release
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• Remarks by Ms Connie Lau, SBS, JP, the Chairman, at the press conference (Chinese version only)
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• Presentation by Mr Daryl Ho, the Chief Executive Officer, at the press conference
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• Consultation paper
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• Frequently asked questions
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  The public consultation ended on 12 October 2023.