YEAROF
ESTABLISHMENT
(SEPT. 1985)
CHANGES (SEPT. 1985~PRESENT)
Fund Investment
•
Deposits at the
Central Bank
•
Investments in
government bonds,
bondsguaranteedby
thegovernment, or
financial debentures
•
The following revisionswereeffective inJanuary1999:
1.DepositsattheCentralBank
2.Deposits in financial institutions approvedby the competent
authorityandwhichprovidegovernmentbondsascollateral
3. Investments ingovernmentbondsand financialdebentures
•
Revised inJanuary2007as follows:
1.DepositsattheCentralBank
2. Investments ingovernmentbonds
3. InvestmenttoolsapprovedbytheCDICBoardofDirectors
Resolution
Measures
•
Direct payout
•
Deposit transfers
•
Temporarily
continuedoperation
in thenameof the
CDIC
•
According to revisions enacted in January 1999, the
provisionof financial assistance toencourageacquisitions
or assumptionsbyother insured institutionswas added to
the threemeasures listed to the left.
•
Revised inJanuary2007as follows:
1.Deletionof temporarilycontinuedoperation in thenameof the
CDIC.
2. In addition to providing financial assistance to encourage
acquisitionsorassumptionsof insured institutions thathavebeen
ordered tocloseby theFSC,such financialassistancecanalsobe
provided to insured institutionsbeingputunder conservatorship
ortakenoverbytheauthoritiesaccordingto law.
Advance
Payment for
Deposit inExcess
ofMaximum
Coverageand
Non-deposit
Liabilities
None
According to revisions made in January 1999, advance
payment is allowed to resolve the needs of creditors’
liquidity at failed institutions, under the principle that no
additional costs are incurred.
69
Appendix
