Dear Financial Secretary and Chief Executive of HKSAR,
Referring the captioned subject, may I say a few words:
1. Increase the insured amount from HK$100,000 to HK1,000,000 for each deposit account in a bank.
i. Premium shall be borne either by banks as they have earned billions in profit shown in their published results, or by the Government of HKSAR and /or among banks in Hong Kong, with paying this premium that the Government of HKSAR might highly likely burden substantial less financially in case of bank(s)' insolvency, if any.
2. Act proactively, if possible, to let the citizens, at large, understand the facts of likely deteriorated situation so as to mimimise the impacts of negative unexpectation from the citizens as fear / terror / crisis is generally led from the unknown situation and/or unknown future.
Your adopted policy has shown that it is not appropirate in crisis in banking system.
3. If possible, widen the outlets that money in bank(s), in trouble, could be withdrawn so as to let depositors know that they might take back their hard earned money wherever they want.
i. The outlets might the branches of other banks that were not in trouble and /or Post Offices or other outlets of Government. The settlement of clearing, then, is a matter of yours.
4. Let's help the holders of Lehman Brothers' mini-bond reocver their investments so as to let the citizens to understand that they are protected.
5. Immediately ban the selling of all the non-principal protected investment instruments in the distribution channels through banks and government agencies as bank depositors are not the right kind of clients of those non-principal protected investment instruments .
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