HK, Singapore, Malaysia to devise deposit-insurance exit
The Hong Kong Monetary Authority, Bank Negara Malaysia and the Monetary Authority of Singapore on Wednesday established a working group to map out a strategy for exiting from their full deposit guarantees.
The monetary authorities said that they planned to exit their full deposit guarantee by the end of 2010.
All three countries offered full deposit guarantees to shore up consumer confidence in the aftermath of Lehman Brothers' collapse.
Click here to read the central banks' statement
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