The Central Deposit Insurance Corporation (CDIC) held the Asia-Pacific Regional Committee (APRC) Technical Assistance Workshop of the International Association of Deposit Insurers (IADI) from November 27 to 29, 2018, at the Howard Civil Service International House in Taipei, on the theme of Dealing with Failing and Failed Member Institutions: Case Studies and Lessons Learnt”. The CDIC invited Mr. David Walker, Secretary General of the IADI, and experts with practical experiences from the U.S.A., U.K., Canada, Japan, Korea, Brazil and Russia as the speakers of this Workshop. Approximately 80 participants from 25 jurisdictions in Asia, Europe, America and Africa attended the Workshop. Representatives of the Central Bank and the Financial Supervisory Commission (FSC) also participated in the two-day Workshop. Dr. Tien-Mu Huang, Vice Chairperson of the FSC, delivered an opening remark for the Workshop as well.
In the wake of the global financial crisis in 2008, the IADI released the Core Principles for Effective Deposit Insurance Systems (the Core Principles), which became standards for deposit insurers around the world, to reflect to the importance of financial stability and the need for protecting depositors. In the Core Principles, guidelines related to resolution regimes for failed institutions and fast depositor reimbursement were developed, so most jurisdictions established or revised their domestic regulations on deposit insurance systems in accordance with the Core Principles. In view of a necessity for a deeper understanding of the above two subjects, case studies of fast depositor reimbursement, and various resolution mechanism, such as bridge bank, purchase and assumption, and open bank assistance, were presented and discussed in the Workshop with an aim to effectively handle failing and failed institutions for the financial stability.
At a time of growing emphasis on cross-border cooperation, the holding of the Workshop by the CDIC could help participants’ jurisdictions strengthen their respective payout and resolution mechanisms for failed institutions. It also elevates CDIC’s professional reputation in the field of deposit insurance and strengthens substantive international exchanges and cooperation.
Photo of Dr. Tien-Mu Huang, Vice Chairperson of the Financial Supervisory Commission (FSC) (2nd from the right), Mr. David Walker, Secretary General of the International Association of Deposit Insurers (IADI) (1st from the right), Mr. Michael Lin, Chairman of the Central Deposit Insurance Corporation (CDIC) (2nd from the left), and Mr. William Su, President of the CDIC (1st from the left)
Group photo of the Workshop