Hong Kong proposed raising deposit protection limit to HK$800,000
POLICY & REGULATION
Hong Kong proposed raising deposit protection limit to HK$800,000
POLICY & REGULATION

Hong Kong proposed raising deposit protection limit to HK$800,000

 

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The Hong Kong Deposit Protection Board on Thursday proposed enhancement to the Deposit Protection Scheme, including raising the protection limit from the current HK$500,000 to HK$800,000.

Lifting the protection limit could keep up with inflation over time, with the real value of deposit protection up by 21%, while fully protect more depositors, up from the current 89% to 92% and meet international standards of at least 90%, the board said. 

The Board welcomes views and comments on the policy recommendations and the consultation starts on Thursday and will last for 3 months.