In particular, it would support development of, and access to, market-based credit for firms. The broader goal was to develop the foundation for an efficient domestic fixed-income market for private issuers. Of course, our markets have been continually evolving, and so we have had frequent consultations with market participants.
Considering that such deposits are based on a risk-sharing agreement and could not be treated as a classical deposit which benefits from a protection scheme, the Hong Kong Monetary Authority recommends improving “financial disclosures on the risk and return profiles of the different categories of deposits, as well as their status under the DPS [Deposit Protection Scheme], will enable depositors, potential or otherwise, to make informed decisions” 32 .