CDIC Chairman Dr. Paul C. D. Lei led the delegation to participate in the International Association of Deposit Insurers (IADI) 15th Annual Conference and Annual General Meeting held in Seoul, Korea, in late October 2016. The Conference included over 180 international delegates from about 70 jurisdictions. These delegates were consisted of representatives of deposit insurance agencies, financial supervisors and central banks from different jurisdictions, as well as international organizations such as the World Bank, the International Monetary Fund, the Bank for International Settlements, and the Organisation for Economic Co-operation and Development. The CDIC delegation also attended a series of the IADI meetings of the Executive Council, Standing Committees, the Asia Pacific Regional Committee, the Research and Guidance Committee, as well as the IADI Deposit Insurance Exhibition.
IADI was formed in May 2002. Currently it has 107 members, including 83 formal members, 10 associates and 14 partners. The CDIC has been actively participating in the IADI activities since becoming a founding member of the Association in May 2002. CDIC Executive Vice President Mr. William Su was elected to serve for the second term as a member of the Executive Council. In this meeting, Mr. Su was also nominated by the IADI’s Chair of the Executive Council, Mr. Thomas Hoenig, as the Chairperson of the Council Committee on Core Principles and Research (CPRC) and approved by the Executive Council. The CPRC’s main responsibilities include monitoring the implementation of and conducting reviews of the IADI Core Principles, guidance and researches.
The main theme of the 15th IADI Annual Conference was "Gearing Up for the Next Crisis" including four sessions: "Crisis Prevention: Measures to Encourage Financial Institutions to Manage themselves in a Safe and Sound Manner", "Contingency Planning: Building Crisis Response Mechanisms”, "What is an Appropriate Funding Framework to Address a Crisis?”, and "Case Studies of Deposit Insurers Dealing with a Crisis and Preparing for New Ones”. Chairman Lei was invited to be a speaker of the session "What is an Appropriate Funding Framework to Address a Crisis?” to share Taiwan’s experience in funding mechanism. His presentation received favorable applause from the participants. The CDIC also participated in the IADI Deposit Insurance Exhibition in which the CDIC annual reports, corporate profile, various brochures and public awareness souvenirs were displayed and handed out for reference.
During the IADI events, CDIC Chairman Lei had a meeting with the Indonesia Deposit Insurance Corporation CEO Mr. Fauzi Ichsan, and the Depositor Protection Fund of Laos Director General Mrs. Sengdaovy Vongkhamsao, and shared the current economic and financial status and the experiences in implementing the respective deposit insurance systems. Moreover, future cooperation among the three deposit insurers was discussed.