| Part C - Scheme members |
| Q25. |
Who are members of the DPS? |
| A25. |
The list of members of the DPS can be found here.
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| Q26. |
What institutions are covered by the DPS? How can I distinguish between members and non-members of the DPS?
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| A26. |
All licensed banks, unless exempted by the Board, are covered by the DPS. A Scheme member is required to display a DPS membership sign prominently at its places of business (for example, bank branches).
Membership sign
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| Q27. |
How do I know whether a bank is exempted by the Board? |
| A27. |
Only Hong Kong branches of overseas-incorporated banks, which are covered by a deposit insurance scheme with comparable level and scope of protection, are eligible for exemption. An exempted bank must inform their depositors that they are not covered by the DPS in Hong Kong. They are also required to provide their depositors with information about the protection available under the relevant overseas deposit insurance scheme. |
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| Q28. |
Which banks are exempted by the Board? |
| A28. |
The list of exempted banks can be found here.
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| Q29. |
Are restricted licence banks and deposit-taking companies covered by the DPS? |
| A29. |
No. Only licensed banks are covered by the DPS. |
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| Q30. |
Why doesn't the DPS cover restricted licence banks and deposit-taking companies? |
| A30. |
In determining the institutional coverage of the DPS, a critical factor of consideration is whether it can help the Scheme achieve its policy objective of protecting small depositors and hence contributing to banking stability. As the share of customer deposits placed with restricted licence banks and deposit-taking companies is very small as compared to total customer deposits in the banking industry, the extension of DPS coverage to these institutions would not add much to improving the overall effectiveness of the Scheme. |
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| Q31. |
Are other financial institutions such as securities companies and insurance companies covered by the DPS? |
| A31. |
No. Only licensed banks are covered by the DPS. |
RSS