In order to strengthen the cooperative relationship between the Central Deposit Insurance Corporation (CDIC) and the National Deposit Insurance Fund of Hungary (NDIF) since the two organizations signed the Memorandum of Understanding in 2005, CDIC Chairman Fred Chen paid a visit to NDIF in late August 2010 in Budapest, Hungary, and had a meeting with its Managing Director Dr. Andras Fekete-Gyor and NDIF senior officers. They shared and exchanged experiences and views on the recent development of the respective deposit insurance systems and the post-crisis challenges. In the future, the two organizations will keep the ties close by exchanging of information and personnel, in the hope that both deposit insurance systems will be enhanced and advanced.
During the trip, Chairman Chen also visited the Deposit Insurance Fund of Czech Republic (DIF) and met with its Chairman Mr. Josef Tauber and Managing Director Mrs. Renata Kadlecova. The topics discussed between the two organizations covered the deposit insurance related issues focusing on the development of the payout systems. By exchanging the experiences, it was helpful for CDIC and DIF in improving professional techniques and enhancing the deposit insurance mechanisms.