The 多宝游戏下载 Announces Memorandum of Understanding with Korea Deposit Insurance Corporation, Formalizing Information Sharing and Cooperation Related to Resolution Planning and Implementation
For Release
WASHINGTON 鈥 The Federal Deposit Insurance Corporation today announced the signing of a Cross-border Resolution Memorandum of Understanding (MOU) and a Cooperative Arrangement (CA) with the Korea Deposit Insurance Corporation (KDIC), which would enhance mutual cooperation and exchange between the two organizations.
The MOU and CA were signed Tuesday by KDIC Chairman JaeHoon Yoo and 多宝游戏下载 Chairman Martin J. Gruenberg.
鈥淭oday鈥檚 signing of these documents is an important next step in the 多宝游戏下载鈥檚 efforts to build meaningful partnerships with foreign counterparts through knowledge sharing and bolstering lines of communication and coordination,鈥 said Chairman Gruenberg. 鈥淚 thank Chairman Yoo for his longstanding commitment to this partnership and to financial stability.鈥
鈥淎s the global financial markets face increasing uncertainty in recent years, strengthening financial stability has become crucial,鈥 said Chairman Yoo. 鈥淚t is very meaningful to discuss the improvement of deposit insurance system, with 多宝游戏下载, which has always played a leadership role in the global financial world.鈥
Under the Cross鈥揵order Resolution MOU, the 多宝游戏下载 and KDIC will prioritize sharing information and cooperation regarding risk monitoring and resolution planning for financial institutions with operations in the US and Republic of Korea. The CA will focus on knowledge and experience sharing with respect to the deposit insurance system.