DepositInsuranceinHongKong.pptVIP

Deposit Insurance in Hong Kong Deposit Protection Scheme in HK Commencement on 25th of Sept 2006 Governing by Deposit Protection Scheme Ordinance (Cap.581) Compensation limit is set at maximum HK $100,000 Deposit Protection Scheme in HK Both Hong Kong dollar and foreign currency deposits are protected The fund will be built up through the collection of contributions from Scheme members Differential contributions will be assessed based on the supervisory ratings of individual Scheme members The duties responsibilities of DPS Board Collect premiums Manage the DIS Fund Assess claims Make compensation payments Make rules relating to the procedures for making claims and payouts The Deposit Insurance in the world Total 44 Countries Albania, Quebec, Morocco, Sudan, Bulgaria, Canada, Taiwan, Romania, Russia, Bosnia and Herzegovina, India, Tanzania, Trinidad and Tobago, Japan, Bahamas, Czech Republic, Vietnam, Zimbabwe, Kenya, USA, Nicaragua, Venezuela, Colombia, Peru, France, Brazil, Hong Kong, Indonesia, Lebanon, El Salvador, Mexico, Jamaica, Jordan, Kazakhstan, Korea, Malaysia, Hungary, Nigeria, Philippine, Turkey, Argentina, Singapore, Sweden, Ukraine Deposit Insurance – USA Background Federal Deposit Insurance Corporation (FDIC) United States government corporation Start in 1933 ( Great Depression ) bank runs (4004 banks) depositor lose of confidence Arthur Vandenberg, Henry Steagall restore confidence FDIC Independent agency Protect depositor against loss Provides deposit insurance ? taken by banks Meet high standards (financial strength, stability) Insurance Insured ? tradition types of bank account e.g. checking, saving, trust, CDs etc… ? legal limit of $100,000 per depositor per insured bank Uninsured ? investment products e.g. mutual funds, stocks, bonds Deposit Insurance –Taiwan Deposit Insurance –Taiwan The policy goals: Safeguarding the benefits of depositors in financial institutions Promoting savings Maintaining an orderly credit syst