To facilitate cross-border cooperation and the exchange of information, the Central Deposit Insurance Corporation (CDIC) entered the Memorandum of Understanding (MOU) with the Financial Market Guarantee System (FMGS), Czech Republic, on 31^th August 2018 in Prague, establishing formal cooperative relations between the two sides.   The signing representatives from the CDIC are Mr. Micheal M.K. Lin, President, and Mr. William Su, Executive Vice President, and the FMGS Mrs. Renata Kadlecova, Chairperson of the Managing Board and Managing Director, and Mr. Tomas Hejduk, Management Board Member and Chief Legal Manager.  Mr. William Su led a delegation to attend the signing ceremony in Prague, and exchanged views and experience in topics on the banking sector of both sides, EFDI multi-lateral cooperative agreements, payout mechanisms and crisis communication.

Recently cross-border coordination and cooperation has been one major initiative for strengthening domestic financial safety net.  As a result, deposit insurance organizations worldwide have been striving for the reinforcement of international cooperation.  The CDIC and the FMGS are both members of the International Association of Deposit Insurers (IADI), so the signing of this MOU conforms to the revised IADI Core Principles for Effective Deposit Insurance Systems issued in November 2014 illustrating specifically the sharing of information and cooperation on a cross-border basis.

In the future the CDIC will continue to cope with the FMGS on strengthening the sharing of information and professional experience, to further fulfill policy functions of protecting depositors and maintaining financial stability in respective jurisdictions.

Mr. William Su, CDIC Executive Vice President (left) and Mrs. Renata Kadlecova, FMGS's Chairperson of the Managing Board and Managing Director (right) represent their organizations at the MOU signing ceremony held in Prague Czech on August 31 2018.

Group photo of CDIC Executive Vice President Mr. William Su (left 2) and Director of International Relations and Research Department Ms. Yvonne Fan (left 1),as well as FMGS Chairperson of the Managing Board and Managing Director Mrs. Renata Kadlecova (centre), Management Board Member and Chief Legal Manager Mr. Tomas Hejduk, (right 2), and Management Board Member Mr. Roman Kahanek (right 1)