Securities & Futures Commission of Hong Kong

Bank Crisis - The failed bank is the settlement bank of a brokerage or provides loans to the brokerage

Q1:

I deposited money into the brokerage's account at the failed bank just before it collapses (T+1), for settlement of a trade. Is there a problem?

A:

This must be considered by the administrator of the failed bank based on the actual situation.

Q2:

What settlement alternatives are available? For instance, should I take cheques directly to the brokerage?

A:

Yes, you may take cheques directly to the brokerage for settlement. You are advised to clarify with your brokerage directly for other settlement alternatives.

Q3:

I have in my possession a cheque drawn by the brokerage on the failed bank. Can I still bank in the cheque?

A:

You should ask the brokerage to make other alternative arrangement.

3.7710 s