The Hong Kong Monetary Authority (HKMA) and The Hong Kong Association of Banks (HKAB) issued a statement calling on the banking industry to assist residents affected by the No. 5 alarm fire at Wang Fuk Court in Tai Po, and confirmed they are in close communication to coordinate support. Banks have been asked to exercise discretion and flexibility, including helping affected customers access liquid funds, prioritising and expediting replacement of banking documents, offering repayment grace periods and waiving penalties and service charges, and increasing staffing at Tai Po branches to provide timely support. The HKMA and HKAB will continue to monitor developments and coordinate with the industry to meet affected families’ urgent needs for banking services and liquidity.
Hong Kong Monetary Authority 2025-11-27
Hong Kong Monetary Authority and Hong Kong Association of Banks urge banks to provide flexible support for residents affected by Tai Po fire
The Hong Kong Monetary Authority and The Hong Kong Association of Banks urged banks to support residents impacted by the No. 5 alarm fire at Wang Fuk Court in Tai Po. Banks are advised to offer flexible measures like access to liquid funds, expedited document replacement, repayment grace periods, and increased staffing at Tai Po branches. Authorities will continue to monitor the situation and coordinate industry efforts to address urgent banking needs.