HKMA and the banking industry provide support to Tai Po residents affected by a fire, offering flexibility in banking services.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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SPOTLIGHT ON
FAMILY OFFICES
The Hong Kong Monetary Authority ("HKMA") and the Hong Kong Association of Banks ("HKAB") convey their sincere condolences on the loss and injuries resulting from the fire at Wang Fuk Court in Tai Po, offering assistance to the bereaved families and those affected. The entities maintain close contact to ensure that the banking sector provides adequate support to those impacted by the incident.
In response to the situation, HKMA and HKAB urge the banking industry to demonstrate flexibility by aiding with liquid funds, expediting the replacement of banking documents, and offering repayment grace periods and waiving penalties and service charges. Additionally, they have increased manpower at Tai Po branches to facilitate timely support.
The HKMA and HKAB will continue to monitor the situation, coordinating efforts with the industry to address immediate banking needs and liquidity concerns of those affected by the incident.
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