Press release announcing the expiration of the CBC

Hong Kong Monetary Authority

Yale University

Yale University EliScholar – A Digital Platform for Scholarly Publishing at Yale YPFS Documents (Series 1) Browse by Media Type 12-30-2010 Expiry of the Full Deposit Guarantee and the Contingent Bank Capital Facility Hong Kong Monetary Authority Follow this and additional works at: https://elischolar.library.yale.edu/ypfs-documents Recommended Citation Hong Kong Monetary Authority, "Expiry of the Full Deposit Guarantee and the Contingent Bank Capital Facility" (2010). YPFS Documents (Series 1). 10492. https://elischolar.library.yale.edu/ypfs-documents/10492 This Document is brought to you for free and open access by the Browse by Media Type at EliScholar – A Digital Platform for Scholarly Publishing at Yale. It has been accepted for inclusion in YPFS Documents (Series 1) by an authorized administrator of EliScholar – A Digital Platform for Scholarly Publishing at Yale. For more information, please contact elischolar@yale.edu. 4/29/2021 Hong Kong Monetary Authority - Expiry of the Full Deposit Guarantee and the Contingent Bank Capital Facilityhttps://www.hkma.gov.hk/eng/news-and-media/press-releases/2010/12/20101230-3/ 1/1Press Releases30 Dec 2010Expiry of the Full Deposit Guarantee and the Contingent BankCapital FacilityThe Full Deposit Guarantee and the Contingent Bank Capital Facility provided by theExchange Fund of the HKSAR Government will expire at the end of 2010 as originallyscheduled.The introduction of these two special measures were announced by the Financial Secretaryon 14 October 2008. The Full Deposit Guarantee provides guarantee for all deposits heldwith authorized institutions (i.e. all licensed banks, restricted licence banks and deposit-taking companies). CBCF was established for the purpose of making available additionalcapital in case of need to locally incorporated licensed banks. The two contingencymeasures were introduced at the onset of the global  nancial crisis in late 2008 to reinforcecon dence in Hong Kong's banking system. There has been no utilization of the CBCF by thebanks in Hong Kong since the establishment of the facility.On expiry of the Full Deposit Guarantee, an enhanced Deposit Protection Scheme will comeinto effect on 1 January 2011, more details of which are provided in a separate pressrelease.For media enquiries, please contact: Rhonda Lam, Communications Chief, at 2878 1480 or Anissa Wong, Manager (Communications), at 2878 1802Hong Kong Monetary Authority 30 December 2010Last revision date : 30 December 2010

Expiry of the Full Deposit Guarantee and the Contingent Bank Capital Facility

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Expiry of the Full Deposit Guarantee and the Contingent Bank Capital Facility

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