In order to facilitate cross-border cooperation and the exchange of information among the Central Deposit Insurance Corporation (CDIC) and the deposit protection agencies of the German private commercial banks, with the aim to provide depositors protection in both jurisdictions, two Memorandums of Understanding (MOU) have been signed on 5 December 2014 in Berlin, Germany by the representatives of CDIC, the Association of German Banks - Deposit Protection Fund (AGB) and the German Private Banks’ Statutory Compensation Scheme (EdB), to symbolize their official bilateral cooperation. The signing representative from CDIC is President Mr. Michael M. K. Lin. The signing representatives from AGB are General Manager and Member of the Board of Directors Mr. Michael Kemmer, two members of the Senior Management Board Mr. Hans-Joachim Massenberg and Mr. Andreas Krautscheid, and Managing Director Mr. Dirk Cupei. The representatives from EdB are Managing Directors Mr. Dirk Cupei and Mr. Jorgen Bang.
The deposit guarantee schemes of German private commercial banks are provided jointly by AGB and EdB. The Taipei branch of the Deutsche Bank AG has been exempted from participation in Taiwan's deposit insurance system because of its being covered by the German deposit guarantee schemes.
Due to the trends of financial liberalization, diversification and globalization in recent years, the occurance of chain reactions caused by the financial problems has become an issue for national policymakers to take into consideration. Since cross-border financial problems have emerged as the focus for financial safety net players worldwide, financial supervisors in many jurisdictions have been striving for the reinforcement of international cooperation to maintain the stability of global finance. CDIC and AGB are members of the International Association of Deposit Insurers (IADI), so the signing of official MOU conforms to the revised IADI Core Principles for Effective Deposit Insurance Systems issued in November 2014 illustrating specifically the sharing of information and cooperation on a cross-border basis.
In the future CDIC will continue to cope with AGB and EdB on strengthening the sharing of information and professional experience, to further fulfill its policy functions of protecting depositors and maintaining financial stability in Taiwan.