Central Deposit Insurance Corporation (CDIC) will host an "International Seminar on Lessons and Implications in Managing the Global Financial Crisis" on October 22 to 23, 2009, at the Jingye Hall of the Taiwan Academy of Banking and Finance. The seminar will aim to give the domestic financial institutions and other financial safety net members a more in-depth understanding of the current status of international financial markets and the trends of financial supervision, as well as strengthen awareness of risk management. The seminar will be attended by representatives of financial safety net players in Taiwan (the Financial Supervisory Commission [FSC], Ministry of Finance, Central Bank, and Council for Economic Planning and Development), bank senior executives, and Asian financial supervisory agencies and deposit insurance organizations.
The global economy and financial markets have been universally affected by the financial turmoil since the second half of 2007. Governments around the world are reviewing their financial supervisory systems, while also highlighting the importance of deposit insurance for maintaining financial stability. In the age of globalization, individual economies are no longer able to operate outside the international financial markets. Inter-regional and international cooperation among financial organizations has also become increasingly important. The current financial storm provides countries and policymakers with a best opportunity to consider the causes of the problem, while forcing them to come up with solutions and conduct reforms in the face of changing developments in financial markets. As a member of the financial safety net, CDIC plans to host the "International Seminar on Lessons and Implications in Managing the Global Financial Crisis." The seminar will provide an opportunity to explore the current status of international financial markets and reforms in financial supervisory systems, helping financial institutions to strengthen risk management and understand future development trends in the financial markets.
FSC Vice Chairperson Jih-chu Lee will be invited to deliver a Welcome Remarks at the seminar. Other prominent international experts in the financial field, including representatives from the International Association of Deposit Insurers, Bank for International Settlements, U.S. Federal Deposit Insurance Corporation, and U.S. management consulting firm Oliver Wyman will also present their specified addresses. CDIC has also invited several well-known financial experts and scholars from Taiwan to participate as moderators and discussants during the seminar sessions. The distinguished speakers will share their insights on international financial supervision trends and offer suggestions, from an international perspective, on financial practices and financial supervision mechanism. The discussion topics of the various sessions include:" Responding to the Financial Crisis: Reforming Financial Regulation," "Financial Innovation in the Global Perspectives: Developments and Tendencies," "Major Challenges facing Deposit Insurance Systems in the Financial Crisis," and "Financial Risk Management in a Volatile Global Environment."
The seminar will close with a general discussion session for face-to-face exchanges between the seminar participants and speakers. The exchanges of experience during this session will provide a reference to financial supervisors in Taiwan, while also helping local banks to develop healthy overall risk management concepts and promote the sound development of Taiwan's financial system.