KDIC News

Dept.	Intl Affairs Team	Date	30/12/2008
File
Subject	Roundtable with FDIC Specialist
The KDIC held a roundtable with Jack Reidhill, a specialist from the Federal Deposit Insurance Corporation (FDIC), on Nov. 10. 2008. Thirteen directors of the KDIC attended the discussion, including Mr. Jong Tae Kim, the director general of the Department of Insurance System and Research, and Mr. Hyo Soon Choi, the director general of the Department of Risk Surveillance I. Mr. Reidhill specializes in financial strategy, risk surveillance, and resolution, and in particular, the resolution of mutual savings banks, and the directors responsible for these areas were therefore invited to attend this meeting. The main topic of discussion was the FDIC’s Temporary Liquidity Guarantee Program (TLGP) and the disposal process of Wachovia bank. Attendees also discussed how the FDIC manages to resolve failing financial institutions without suspending the institution’s business operations.

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