Central Deposit Insurance Corporation of Taiwan (CDIC) and Deposit Protection of Swiss Banks and Securities Dealers (esisuisse) will sign a memorandum of understanding (MOU) in Taipei on November 12, 2012, to formally establish cooperation relations and deepen experience sharing and information exchange between the two organizations. CDIC President Howard Wang and esisuisse CEO Patrick Loeb will represent their respective organizations in signing the MOU.

esisuisse is in charge of Switzerland's deposit protection mechanism as mandated under the Swiss Federal Act on Banks and Savings Banks. The organization was established in 2005 with missions to ensure financial stability and order and to strengthen protections for small depositors. With financial liberalization, diversification and globalization in recent years, financial problems can more easily have chain effects that ripple across borders. This has become a focal issue for financial safety net members around the world. Financial supervisory agencies in various countries are actively exploring ways to strengthen international cooperation to maintain global financial stability. CDIC and esisuisse are both members of the International Association of Deposit Insurers (IADI) and have used the exchange platform provided by the association to jointly promote organizational affairs, exchange information, and interact more closely. This set the foundation for the MOU signing between the two sides.

In future, CDIC and esisuisse will continue to strengthen exchanges of information, personnel, professional skills, and experience of the two organizations and thereby enhance the policy functions of protecting depositors’ rights and interests and maintaining the stability of financial systems.