The banking industry has launched six emergency measures to support residents affected by the disaster in Tai Po

To assist the residents affected by the Level 5 fire in Tai Po, the Hong Kong Monetary Authority (HKMA) is discussing follow-up measures with the Hong Kong Association of Banks and 28 retail banks, including digital banks.

In response to the special circumstances of this fire, the banking industry has immediately launched six emergency support measures: establishing an internal task force, setting up a dedicated hotline, and enhancing information dissemination. Each retail bank will establish a task force led by management to coordinate and flexibly allocate internal resources, guiding frontline staff to handle cases of affected residents flexibly, and will set up a 24-hour hotline to answer inquiries, as well as publish details and updates of support measures on branches, websites, and social media;

Providing a pre-approved six-month repayment grace period to alleviate the immediate financial pressure on affected residents — offering a pre-approved six-month repayment grace period for mortgages, personal loans, and credit cards for affected residents, including both principal and interest, and waiving related penalties and fees;

Extending service hours at banks in the Tai Po district and increasing manpower to meet local demand. Each retail bank will extend service hours at branches in the Tai Po district, providing services on November 29 (Saturday) from 9 AM to 5 PM and on November 30 (Sunday) from 9 AM to 1 PM, and will adjust service hours for the following week based on actual circumstances. Additional staff will be deployed at branches to understand the special needs of affected residents regarding banking services;

Prioritizing the processing of banking operations and document replacement for affected residents, assisting affected residents or their relatives in expediting the processing of related banking operations, prioritizing and speeding up the replacement of banking documents such as ATM cards, credit cards, and debit cards, and arranging flexible collection or direct delivery;

Providing flexible assistance for affected residents to withdraw liquid funds, especially for those unable to present identification or banking documents, verifying identities in different ways to facilitate cash withdrawals and continued use of other banking services; assisting in following up on insurance claims, with each retail bank proactively contacting affected residents who purchased policies through the bank to assist them in filing claims