Press Releases

Dept.	Recovery Planning and Coordination	Date	22/05/2017
File	170522 KDIC Preemptively expediting deposit insurance payment.pdf
Subject	Preemptively Expediting Deposit Insurance Payment
In May 2017, the KDIC has finalized the consultation with 17 commercial banks on the establishment of IT system needed to fulfil the requirements posfor banks to maintain deitor information at all times. Once the system is put in place, banks will be required to maintain information needed to calculate the amount of insurance payment to each depositor at all times, enabling the KDIC to carry out reimbursement process within seven working days. Please find attached for details.

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