The Chair of the Executive Council of the International Association of Deposit Insurers (IADI) and Vice Chairman of the Federal Deposit Insurance Corporation (FDIC) Thomas M. Hoenig accompanied by Ms. Diane Ellis, Director of Division of Insurance and Research of FDIC, paid a visit to Taiwan in end October 2016. CDIC Chairman Dr. Paul C.D. Lei along with President Michael Lin, Executive Vice President William Su, and Director of the International Relations and Research Office Yvonne Fan cordially received the delegation. Mr. Hoenig met with high-level government officials as well as Chairman of Financial Supervisory Commission (FSC) Ruey-Tsang Lee and its Vice Chairman Tien-Mu Huang. The main issues discussed included the international exchange in deposit insurance and financial supervision, the main strategic priorities of IADI, and current development of international financial supervision.
The IADI is a worldwide international standard setter for deposit insurance. Its objectives are to contribute to the stability of financial systems by promoting international cooperation in the field of deposit insurance, and encouraging wide international contact among deposit insurers and other interested parties. With the government's full support, CDIC has since 2002 joined the IADI as a founding member, and has actively participated in the IADI's various international activities and research projects. The IADI has indeed provided an essential channel for Taiwan to learn and exchange information and experiences with deposit insurers from around the world, as well as to contribute its experiences in Taiwan’s deposit insurance system and resolution of problem financial institutions.
Mr. Hoenig's visit in the capacity of the Chair of the Executive Council of the IADI is really meaningful toward Taiwan in recognizing CDIC's contribution in the global and national financial safety nets. The CDIC will continue contributing to the IADI. It is also hoped that there will be further cooperative opportunities and business correspondence between the FDIC and the CDIC, and ultimately to advance the deposit insurance system and the financial safety net in Taiwan.