International Affairs
Since 2002, CDIC has, in line with government policy and at the Ministry of Finance’s requirement, participated in activities of the International Association of Deposit Insurers (IADI), becoming a founding member and actively engaging itself in IADI affairs. IADI has membership over 100 with Members representing over seventy percent of jurisdictions with deposit insurance systems. IADI’s role as a standard setter for deposit insurance has been recognized by the Financial Stability Board (FSB), which has incorporated IADI’s Core Principles for Effective Deposit Insurance Systems into the global Compendium of Financial Standards.
Since CDIC joined IADI, in line with national policies, it has enhanced its participation in the Association’s undertakings and research projects. It has also served in various important capacities including as a member of IADI’s Executive Council, the highest level decision-making body in the Association, and as Chair of its Core Principles and Research Council Committee, leading the Committee to develop multiple IADI guidance and research/discussion papers . It also makes all efforts to promote international researches on deposit insurance issues and the formulation of general guidance. In addition, CDIC participated in the development of IADI’s Core Principles for Effective Deposit Insurance Systems in 2009 and its revised version in 2014.
CDIC has actively sought to host international conferences/seminars and various international exchange activities, in order to raise CDIC’s image of professionalism and international recognition. In 2005, CDIC hosted the IADI’s 4th Annual General Meeting and Conference in Taipei. At the meeting, CDIC was voted as the first recipient of the award for “Deposit Insurance Organization of the Year.” After ten years, in 2015, CDIC hosted the IADI Asia Pacific Regional Committee’s 13th Annual Meeting and International Conference in Taipei.
Group photo of all participants in the 2015 IADI APRC International Conference.
In addition, CDIC has formally signed Memorandums of Understanding (MOU) or Letters of Exchange (LOE) with 26 international peer institutions including the Deposit Insurance Corporation of Japan, Canada Deposit Insurance Corporation, Fonds de Garantie des Dépôts (France), and etc. Through these partnerships, CDIC strengthens cross-border cooperation and exchange of information to learn developing issues in other deposit insurance systems (DIS) so as to enhance the DIS in Taiwan.