The Central Deposit Insurance Corporation (CDIC) will hold the Second Session of the 2013 Executive Training Seminar of the International Association of Deposit Insurers (IADI) on December 2 to 4, 2013, at the Howard Civil Service International House in Taipei. The theme of the seminar is "Claims Management: Reimbursement to Insured Depositors." About 50 experts and senior executives from over 20 countries are expected to attend.
The CDIC has promoted international exchanges since its establishment in 1985. In May 2002, it joined the IADI as a founding member. It also has participated actively in exchanges with domestic and foreign deposit insurers and financial regulatory agencies, as well as established information sharing mechanisms to help to bring Taiwan's financial safety net mechanism into line with international norms and practices. The IADI is headquartered at the Bank for International Settlements. Its objectives are to contribute to the stability of financial systems by promoting international cooperation in the field of deposit insurance and to encourage international wide contact among deposit insurers and other interested parties. The IADI members include deposit insurance organizations, central banks and financial regulatory agencies, the International Monetary Fund, the Asian Development Bank and other international financial organizations. The association was founded with 35 members and has since grown to 92 members.
A key function of deposit insurance systems is to give depositors prompt access to their insured deposits when a bank is closed. Moreover, the ability of deposit insurers to reimburse depositors in a prompt and effective manner is an important cornerstone in maintaining public confidence in the banking sector and financial stability. After the global financial crisis erupted in 2008, many countries found that their reimbursement systems and operating procedures were insufficient to meet actual reimbursement needs. They have therefore amended such systems and processes, as well as review and eliminate potential impediments to improve reimbursement efficiency. The CDIC-hosted IADI training seminar on "Claims Management: Reimbursement to Insured Depositors" is especially meaningful as it brings together elites of the financial and deposit insurance sectors from around the world for exchanges and the sharing of invaluable experience and knowledge.
The content of this training seminar was jointly planned by the IADI Training and Conference Committee, the Federal Deposit Insurance Corporation and the CDIC. The program will discuss the establishment of effective payment systems and procedures, new global trends in reimbursement systems, reimbursement automation and other related issues through case studies, general discussions and other formats. Prominent speakers will share their practical experience with participants to provide a reference for deposit insurance organizations and financial regulatory agencies in future consideration of such issues. This also will be highly beneficial to creating a sound financial safety net.
The CDIC has also been entrusted by the IADI Asia-Pacific Regional Committee (APRC) to hold the APRC Outreach Workshop on December 5. Representatives of Asia-Pacific countries not currently members of the IADI have been invited to participate. During the workshop, speakers from deposit insurance organizations in Korea, Malaysia, Japan and Taiwan will share the experience in the implementation of their deposit insurance systems and discuss the importance of deposit insurance systems to financial stability.