YEAROF
ESTABLISHMENT
(SEPT. 1985)
CHANGES (SEPT. 1985~PRESENT)
Borrowingof
Funds from
Other Financial
Institutions
None
Added inJanuary1999
Provisionof
Collateral when
Applying to the
Central Bank for
Accommodation
Full collateralmust be
provided.
•
Provisions added inJanuary1999as follows:
1.Thatpart forwhichtheCDIC isunabletoprovidecollateral istobe
guaranteedbytheNationalTreasury.
2.When the securedportionexceeds theCDIC’s net worth, the
competent authority and theCentral Bankmust apply to the
ExecutiveYuan forapproval.
•
Revised inJanuary2007 to:
Through a joint request by the competent authority with
theMinistryof Financeand theCentral Bankandapproval
by theExecutiveYuan, thepart forwhich collateral cannot
beprovidedmaybeguaranteedby theNational Treasury.
Penalty for
Refusal toApply
toParticipate in
Deposit Insurance
None
•
Provisionadded inJanuary1999:
A fine of double the amount of the deposit insurance
premium for penalty is tobe imposed.
•
Revised inJanuary2007 to:
Depending on whether the institution is a general
financial institution or agricultural financial institution, the
CDIC shall report to the competent authority toorder the
financial institution to replace its persons in charge or to
revoke itsbusiness license.
Methodof
Allocationof the
CDIC’sSurplus
As stipulated in the
CompanyAct
•
Beginning in July 2001, the entire amount of the surplus
remaining after the accounts are closed is placed into the
Deposit InsurancePayout Special Reserves.
•
Revised inJanuary2007 to:
The entire amount of the surplus remaining from annual
income after deducting costs, expenses and losses shall
be deposited into the Deposit Insurance Payout Special
Reserves.
71
Appendix
