In order to strengthen the cooperative relationship between the Central Deposit Insurance Corporation (CDIC) and Fonds de Garantie des Depots et de Resolution (FGDR) since the two organizations signed the Memorandum of Understanding in 2013, CDIC Chairman David Sun paid a visit to FGDR in early July 2014 in Paris, France, and had a meeting with FGDR Chairman Mr. Thierry Dissaux. They shared and exchanged experiences and views on the recent development and future perspective of the deposit insurance systems. CDIC delegates presented CDIC's mandate and experiences in handling resolution cases and payout IT system. FGDR representatives shared recent EU legislation on deposit guarantee schemes (DGS) and resolution framework and the new role of FGDR in bank resolution.
In the meeting, the representatives of the two sides emphasized that there would be further cooperation in the future and would interact more closely by various ways in the hope that both deposit insurance systems will be enhanced.
In order to strengthen the cooperative relationship between CDIC and the National Deposit Insurance Fund of Hungary (NDIF), two organizations signed the Memorandum of Understanding (MOU) to formally initiate a bilateral cooperative relationship in June 2005. This year, for further enhancing cooperation, CDIC Chairman Sun visited NDIF to formally renew the MOU with NDIF's Managing Director Dr. András Fekete-Györ on July 7.
In the MOU renewal meeting, two organizations shared and exchanged the views on the recent development of respective deposit insurance systems and future challenges. CDIC delegates presented the experiences in managing deposit insurance issues of credit departments of farmers' and fishermen's associations, and in running the differential premium system in Taiwan. NDIF representatives presented lessons from the recent cases of savings cooperative banks in Hungary and recent EU legislations on DGS and Bank Recovery and Resolution Directive. In the future, CDIC and NDIF will continue to strengthen the deposit insurance systems in respective countries through bilateral exchanges of information and personnel, the provision of professional expertise and the sharing of experiences, with a view to enhancing the deposit insurance systems.