The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB), working with 28 retail banks including digital banks, announced six emergency support measures with immediate effect to help residents affected by the No. 5 alarm fire in Tai Po manage urgent banking and financial needs. Measures include senior management-led committees at each bank, 24-hour dedicated hotlines and enhanced communications; a six-month pre-approved repayment grace period covering principal and interest for products including mortgages, personal loans and credit card loans, with related penalties and service charges waived; and extended branch service hours in Tai Po from 9:00 am to 5:00 pm on 29 November and 9:00 am to 1:00 pm on 30 November, alongside increased staffing. Banks will also prioritise account handling and replacement of banking documents such as ATM cards and credit cards with flexible collection or delivery, provide alternative identification arrangements to help affected customers access liquid funds where ID or documents are unavailable, and proactively assist customers who bought insurance through banks with submitting claims. Branch service schedules for the following week will be adjusted as necessary based on circumstances. HKMA and HKAB also urged the public to remain vigilant against fraud, including verifying callers claiming to be from banks and avoiding disclosure of sensitive information.
Hong Kong Monetary Authority 2025-11-28
Hong Kong Monetary Authority and Hong Kong Association of Banks roll out six emergency banking support measures for Tai Po fire victims
The Hong Kong Monetary Authority and the Hong Kong Association of Banks, in collaboration with 28 retail banks, announced six emergency support measures to assist residents affected by the No. 5 alarm fire in Tai Po. Measures include a six-month repayment grace period, extended branch hours, and prioritised account handling. The public is advised to remain vigilant against fraud.