Date
20 October 2017

Deposit insurance likely to be launched by year-end, paper says

The State Council is drafting the rules for the country’s deposit insurance scheme, which is expected to be launched as soon as the end of this year, the Economic Information Daily reported Wednesday, citing a source with knowledge of the matter. The scheme will require all deposit-taking financial institutions to pay insurance premiums for the protection of depositors in case of bankruptcy or inability to pay debts when due, the report said.

– Contact HKEJ at [email protected]

MY/AC/CG

 

EJI Weekly Newsletter

Please click here to unsubscribe