Regulatory Alerts2007-01-15
Added · Updated
Deposit Protection Scheme (Asset Maintenance) Rules
The Monetary Authority issued the Deposit Protection Scheme (Asset Maintenance) Rules to empower itself to require Scheme members to maintain specified asset levels in Hong Kong. These subsidiary legislation measures under the Deposit Protection Scheme Ordinance aim to minimize potential shortfall losses for the Hong Kong Deposit Protection Board during the liquidation of a failed member. The Rules came into effect on 15 January 2007 to ensure financial stability within the deposit protection framework.
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