Who regulates your bank?
The OCC ensures that national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.
The OCC ensures that national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.
Who regulates banking and financial services in your jurisdiction? Taiwan has two regulators responsible for the authorization and supervision of banks, insurers and other financial institutions. These are the Financial Supervisory Commission (FSC) and the Central Bank of the Republic of China (Taiwan) (CBC).
Reserve Bank of India has been empowered under Banking Regulation Act, 1949 to conduct the inspection of banks and regulate them in the interest of banking system, banking policy and depositors/public.
National banks and federal savings associations are regulated by the Office of the Comptroller of the Currency (OCC). To find out if your bank is regulated by the OCC, visit the Who Regulates My Bank? page on this website.
The Federal Open Market Committee (FOMC): provides advice on banking policy to the Fed. monitors regulatory banking laws for member banks. sets policy on the sale and purchase of government bonds by the Fed. follows the actions and operations of financial markets to keep them open and competitive.
The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships.
The Banking Act sets forth general regulations that govern the banking business, protect depositors, facilitate the development of enterprises and coordinate banks' operations within the national financial policy of Taiwan.
It was the main issuer of banknotes on the island from 1899 to 1961, when that role was taken over by the Central Bank of China (now Central Bank of the Republic of China (Taiwan). The Bank of Taiwan is owned by the Government of the Republic of China.
| Name | Position | Board |
|---|---|---|
| Joseph Jye-Cherng Lyu | Chairman | Executive Board |
| Tsai, Ming-Fang | Director; Managing Director | Executive Board |
| Juan, Ching-Hwa | Managing Director; Director | Executive Board |
| Chang, Juin-Jen | Managing Director; Director | Executive Board |
Why are financial institutions regulated?
Financial regulation is part of ensuring the safety and soundness of the financial system and protecting consumers.
Regulators are equipped with the task of overseeing, monitoring and enforcing of laws, rules and regulations. One of the Key features of a regulator is to ensure compliance by all parties involved so that fairness, transparency and stability is maintained.
Bank supervision is government oversight of banks. Examiners do not run or manage banks. Rather, they work to understand banks' operations, major risks, how well banks manage those risks and whether banks have sufficient financial and managerial resources.
Shadow banks, often known as nonbank financial companies (NBFCs), can usually operate with little to no oversight from regulators. Examples of shadow banks or financial intermediaries not subject to regulation include hedge funds, private equity funds, mortgage lenders, and even large investment banks.
Without bank regulation, banks would be free to engage in risky behavior that could lead to bank failures and a financial crisis. To prevent this, regulators must monitor banks' activities to ensure that they are sound and stable.
The Federal Reserve is the federal regulator of about 1,000 state-chartered member banks, and cooperates with state bank regulators to supervise these institutions. The Federal Reserve also regulates all bank holding companies.
The U.S. central banking system—the Federal Reserve, or the Fed—is the most powerful economic institution in the United States, perhaps the world. Its core responsibilities include setting interest rates, managing the money supply, and regulating financial markets.
The Banking Regulation Act, 1949 empowers the Reserve Bank of India to inspect and supervise commercial banks. These powers are exercised through on-site inspection and off site surveillance.
The Reserve Bank of India, abbreviated as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system.
The FDIC insures up to $250,000 per account holder, insured bank and ownership category in the event of bank failure. If you have more than $250,000 in the bank, or you're approaching that amount, you may want to structure your accounts to make sure your funds are covered.
Are any banks not FDIC insured?
It is rare for a bank not to have FDIC insurance, but there are exceptions. Bank of North Dakota, for example, is not FDIC-insured. Instead, it is backed by the full faith and credit of the State of North Dakota.
As long as that bank is FDIC-insured and your deposit doesn't exceed $250,000, you should be safe to do so. It might be worth it to maintain an account at a separate bank, however, just in case a bank error or accidental account freeze results in a loss of access to your money for a time.
According to Article 3 of the Taiwan AML Act, “specified unlawful activity” (i.e., money laundering predicate offences) includes, among others, the following: Any offence with a minimum punishment of imprisonment for a term of six months or more. Certain bribery-related offences. Certain fraud-related offences.
| Bank of Taiwan | Land Bank of Taiwan |
|---|---|
| Cota Commercial Bank | Changhua Post Co., Ltd. |
| Union Bank of Taiwan | Far Eastern International Bank |
| Yuanta Bank | Bank Sinopac |
| E.Sun Commercial Bank | KGI Bank |
At its monetary policy meeting on 14 December, the Board of Directors of Taiwan's Central Bank (CBC) left the policy rate at 1.875% for the third straight meeting. The CBC hiked interest rates 75 basis points from early 2022 to early 2023, a much milder tightening cycle than that of most other countries.
