萬國法律事務所

As of January 2011, the maximum coverage for deposit insurance will be reduced to NT$ 3 million. In response to the recent global economic crisis, the maximum coverage for deposit insurance in financial institutions had been increased from the original NT$ 1.5 million to the full coverage of the deposit. The Financial Supervisory Commission indicated that, in light of the recent recovery of the global economy, the conditions for the withdrawal of the full coverage measures for deposit insurance have been met. From January 2011 onwards, the maximum coverage for deposit insurance will be NT$ 3 million. It is expected that 98.6% of accounts in Taiwan will be protected. Financial advisors suggest that, for persons with deposits exceeding NT$ 3 million, deposits can be split between several financial institutions.

In addition, on 26 August 2010, Taiwan’s Executive Yuan passed certain amendments to the Deposit Insurance Act to extend deposit insurance protection to deposits made in foreign currency as well as interest generated by such deposits. The new provisions are expected to be implemented in the upcoming year.