CDIC to serve as receiver for removed institutions or to separately assign liquidator to handle
matters related to write offs for removed institutions. By the end of March 2015, the CDIC had
concluded all conservatorship tasks apart from those related to theCUTIC and theChinfonBank.
The liquidation of the Asia Trust was completed with the cancellation of the bank's corporate
personality. The receivershipof theBowaBankwas completed and its corporatepersonality is in
the cancellationprocess. The remaining five removed institutions—theKBB, theCSB, theEBH, the
TBB, and theChineseBank—are still in the receivershipprocess due toongoing litigation,money
loggedat the court in those institutions’ name, or lackof full recoveryof retained loanassets.
In response to the rise of electronic transactions, the CDIC also continues to research and
developways to simplify and expedite procedures for one of itsmost basic resolution tools—the
payout system. This project involves two stages. Stage one involves the establishment of e-data
files for insured institution based on standardized formats. The stage two is the development of
thePayout andAdvancePayment System.
Under the amendment to
the Deposit Insurance Act
effective on January 18, 2007, insured
institutions are required to establish e-data files for deposits and related items according to the
file format and content stipulated by the CDIC for the calculation of insurance premiums and
the amount of payout when fulfilling insurance responsibilities. According to this stipulation,
the CDIC formulated the "Operational Guidelines for Insured Institutions Establishing Deposit
Insurance Electronic Data Format and Content," which were implemented on April 1, 2008.
Insured institutions are required toestablishe-data files according to theOperational Guidelines.
Such files shall cover all businesses of the insured institutions in the territory of the Republic of
China, including theoperationsof overseasbankingunits.
The CDIC has also completed development of the Payout and Advance Payment System. The
system can complete all operations related to the calculation of payouts and advance payment,
starting on a Friday when business is suspended and ending before the following business day
(Monday),with theaim tobeginprocessingdepositor claimson the followingbusinessday.
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ReviewandOutlook
