Expansionand Improvement of Taiwan’sDeposit InsuranceSystem
YEAROF
ESTABLISHMENT
(SEPT. 1985)
CHANGES (SEPT. 1985~PRESENT)
Typeof
Participation
Voluntary
•
Changed tomandatory system inJanuary1999.
•
Revised inJanuary2007as follows:
1.All financial institutions legallyapproved toacceptdepositsmust
applytotheCDICto jointhedeposit insurancesystem.
2.Such institutionsmaybecome insured institutionsafter inspection
andapprovalbytheCDIC.
3.The twopreceding itemsdonotapply to insured institutions that
have joined thedeposit insurancesystemprior to theenactment
of therevised
Deposit InsuranceAct
.
Capital
•
Legallyprescribed
capitalNT$2billion
•
Paid-in capital
NT$800,050,000
•
Legally prescribed capital raised to NT$5 billion in July
1992.
•
Prescribed capital raised to NT$10 billion in November
1995.
Membership
•
Domesticbanks
(excluding
ChunghwaPostCo.,
Ltd.)
•
Small andmedium
businessbanks
•
Trust and investment
companies
•
Credit cooperatives
•
Credit departments
of farmers’ and
fishermen’s
associations
•
Local branchesof
foreignbanks (even
if their deposits are
protected in their
home countries)
•
Revised in January 1999, to include the financial
institutions:
1.TheChunghwaPostCo.,Ltd.
2.Foreignbankbrancheswhosedeposits areprotected in their
homecountriesmaynotparticipate.
•
Revised inOctober 2013:
Revised “Local Branchesof ForeignBanks” into “Local Branchesof
ForeignBanksandMainlandChineseBanks”.
64
Central Deposit Insurance Corporation 30Years inRetrospect
