Members of the Board
Members of the Board are appointed by the Financial Secretary (FS) in his exercise of power delegated from the Chief Executive of the Hong Kong Special Administrative Region (HKSAR). They have rich experience in finance, accounting, banking, law, administration, information technology, consumer affairs or other relevant professional areas.
The Board currently comprises nine members, including two ex officio members representing the Monetary Authority and the Secretary for Financial Services and the Treasury of the HKSAR Government.
Ex officio Member
Representative of the Secretary for Financial Services and the Treasury
Ex officio Member
Representative of the Monetary Authority
Except for the ex officio members, all other members are appointed for a fixed renewable term not exceeding six years in total under normal circumstances. Members of the Board and its Committees are subject to the HKDPB’s Code of Conduct.
A Register of Members’ Interests, which contains the declarations of interests by Members of the Board, is available for public inspection during office hours (9:00 a.m. to 6:00 p.m. Monday to Friday) at the HKDPB’s office. The Register is updated annually, or, in the case of new Members, upon appointment. For enquiries about the Register, please e-mail dps_enquiry@dps.org.hk or call 1831 831.
Committees and advisory panel of the Board
Under the DPSO, the Board may appoint committees and advisory panels to assist in performing its functions. Currently, an Investment Committee and an Advisory Panel on Communication and Public Education are assisting the Board.
Investment Committee
The Investment Committee is established in accordance with section 7 of Schedule 2 to the DPSO to advise the Board on the investment of the DPS Fund. It is responsible for:
- making recommendations on the investment policy and strategy in respect of the DPS Fund;
- monitoring the investment performance of the DPS Fund and establishing proper risk management controls for the investment activities of the HKDPB; and
- working on any other investment-related matters as determined from time to time by the Board.
The Committee comprises members with experience and expertise in banking and investment-related areas. The Chairperson and most members of the Committee are also members of the Board. The membership of the Committee is as follows:
Advisory Panel on Communication and Public Education
The Advisory Panel on Communication and Public Education is established in accordance with section 7 of Schedule 2 to the DPSO. Comprising the Chairman of the Board and experts with extensive experience in public relations, publicity and community education, the Advisory Panel advises the Board on related matters, such as the development of strategies and implementation of activities in these areas. The membership of the Advisory Panel is as follows:
Consultative Committee on Deposit Protection Scheme
A Consultative Committee on DPS comprising 13 representatives from the banking industry is established to serve as a forum for the HKDPB and the banking industry to exchange views on issues of common interest. The 13 banks included in the Committee are:
- Bank of China (Hong Kong) Limited
- The Bank of East Asia Limited
- BNP Paribas, Hong Kong Branch
- China CITIC Bank International Limited
- Dah Sing Bank Limited
- DBS Bank (Hong Kong) Limited
- Hang Seng Bank Limited
- The Hong Kong and Shanghai Banking Corporation Limited
- Industrial and Commercial Bank of China (Asia) Limited
- JPMorgan Chase Bank, Hong Kong Branch
- Mizuho Corporate Bank Limited, Hong Kong Branch
- Nanyang Commercial Bank Limited
- Standard Chartered Bank (Hong Kong) Limited
Organisational structure
Deposit Protection Appeals Tribunal
Under the DPSO, certain decisions of the HKDPB and the HKMA can be the subject of an appeal to the Deposit Protection Appeals Tribunal (the Tribunal). These include the HKDPB’s decisions regarding whether a foreign bank branch can be exempted from participation in the DPS, the amount of contribution payable by a Scheme member, and the amount of compensation payable to a depositor, as well as the HKMA’s decision to impose an asset maintenance requirement on a Scheme member. The Chief Executive of the Hong Kong Special Administrative Region has appointed a former Deputy Judge of the Court of First Instance of the High Court as Chairperson of the Tribunal, together with a panel of two persons, who may be called upon as members of the Tribunal. Sittings of the Tribunal will be convened only on a need basis.
