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Hong Kong: The second stage of the deposit protection scheme optimization measures will take effect tomorrow
On December 31, the Hong Kong Monetary Authority (HKMA) announced that with the implementation of the optimization measures for the Deposit Protection Scheme (DPS) Phase 1 on October 1, 2024, the optimization measures for Phase 2 will also take effect tomorrow (January 1, 2025). The optimization measures that will take effect tomorrow include providing enhanced protection for depositors affected by bank mergers, and requiring scheme members to display the DPS member logo on their electronic banking platforms.