In order to promote the sharing of experiences and the exchange of information with the Deposit Protection Agency of Thailand (DPA), the Central Deposit Insurance Corporation of Taiwan (CDIC) on April 9, 2012 in the CDIC auditorium signed a Memorandum of Understanding (MOU) to formally establish a bilateral relationship of cooperation. The CDIC was represented by its President, Howard N. H. Wang, and the DPA by its President, Mr. Singha Nikornpun.
In attendance at the signing ceremony, besides the above representatives of CDIC and the DPA, were about 100 people. Those especially invited included Ms. Jih Chu Lee, Vice Chairperson of the Financial Supervisory Commission, who delivered a brief address. Representatives from both the CDIC and the DPA, besides exchanging opinions on the development of the deposit insurance systems in their respective countries, on the recent operating performance of their respective institutions, and on the outlook for the future, also shared the results of exchanges between the two countries in the past and outlined their vision for cooperation in the future. Following the ceremony both sides together convened a professional meeting to exchange and discuss deposit insurance systems mainly focusing on the deposit insurance funding and resolution of failed banks.
The DPA and the CDIC are both members of the International Association of Deposit Insurers (IADI) and, due to their geographical proximity are both members of IADI’s Asia Pacific Regional Committee. Through the platform for exchanges that this association has provided, the two sides have already formed a strong, cooperative working relationship. In the future, the CDIC will continue, on the basis of the MOU, to strengthen cooperation with the DPA in the area of deposit insurance through bilateral exchanges of information and personnel, the provision of professional expertise and the sharing of experience, with a view to increasing the sophistication of deposit insurance in their respective countries and ensuring financial stability in the Asia-Pacific region.