The Central Deposit Insurance Corporation (CDIC) held the Second Session of the 2013 International Association of Deposit Insurers (IADI) Executive Training Program on December 2 to 4, 2013, at the Howard Civil Service International House in Taipei. The theme of the Seminar was "Claims Management: Reimbursement to Insured Depositors." About 50 international experts and senior executives attended from 27 countries, including the United States, Canada, Switzerland, Germany, Japan and South Korea. Ms. Li-ling Wang, Vice Chairperson of Taiwan's Financial Supervisory Commission (FSC) presented a speech at the Farewell Dinner. Representatives of Taiwan's Central Bank and the FSC also participated. 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 practices. The IADI is headquartered at the Bank for International Settlements. As one of the international standard-setting bodies, the IADI's 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 ability of deposit insurers to reimburse depositors in a prompt and effective manner is an important basis for maintaining public confidence in the banking sector and financial stability. In the wake the global financial crisis in 2008, many countries were unable to rapidly reimburse insured depositors after problem institutions were ordered to close. This prompted financial competent authorities in various countries to review and improve reimbursement systems and processes. The IADI planned this training program in view of the importance of prompt reimbursement to insured depositors. The IADI invited the CDIC to host the seminar. The event brought together elites of the financial and deposit insurance sectors from around the world to discuss preparedness of reimbursement processes, solution to address poor data quality, strategies for communication with depositors, alternative methods of reimbursement, information technology reimbursement systems and other issues. Furthermore, case studies, general discussions and other forums during the program provided opportunities to pool the knowledge and experience of the participating experts and jointly issue feasible and constructive proposals. The CDIC also shared Taiwan's experience in addressing poor data quality. At a time of growing emphasis on cross-border financial cooperation, the holding of this international training seminar by the CDIC helps other countries to strengthen their respective deposit insurance mechanisms. It also elevates Taiwan's professional reputation in the field of international deposit insurance and strengthens substantive international exchanges and cooperation. The CDIC was also entrusted by the IADI Asia-Pacific Regional Committee (APRC) to hold the APRC Outreach Workshop on December 5. More than 10 representatives of deposit insurance organizations in Mongolia, Korea, Malaysia, Japan and other countries participated. APRC Chairperson Mr. Hiroyuki Obata presented a speech during the workshop. The delegates shared the experience in implementing their deposit insurance systems, the challenges faced in establishing new deposit insurance systems, the importance of deposit insurance systems to financial stability, and other issues during the lively and fruitful discussions.