Regional: Deposit Insurance Establishment

Sovereign Project | 43074-012

Summary

The proposed R-PTA will provide support to the central banks of the PRC and Mongolia to establish national deposit insurance institutions which (i) conform with the international IADI Core Principles and the specific conditions of each country's financial market; (ii) are suitable for the current unique global financial market circumstances; (iii) minimize moral hazard; and (iv) provide extensive public information campaigns on the purpose and functions of deposit insurance, particularly for the poor, income-insecure, and low financial sophistication households.

Latest Project Documents


Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

Project Name Deposit Insurance Establishment
Project Number 43074-012
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Partnerships
Sector / Subsector Finance - Banking systems and nonbank financial institutions
Gender Equity and Mainstreaming No gender elements
Description The proposed R-PTA will provide support to the central banks of the PRC and Mongolia to establish national deposit insurance institutions which (i) conform with the international IADI Core Principles and the specific conditions of each country's financial market; (ii) are suitable for the current unique global financial market circumstances; (iii) minimize moral hazard; and (iv) provide extensive public information campaigns on the purpose and functions of deposit insurance, particularly for the poor, income-insecure, and low financial sophistication households.
Project Rationale and Linkage to Country/Regional Strategy The PRC CPS (2008-2010) provides for continuing institutional reforms in the finance sector (pages 14-15). The Mongolia CSP Update (2007-2009 provides for improvements in the financial sector to increase the supply of rural and longer-term finance (page 4).
Impact The impact of this R-PATA will be improved confidence in, and stability of, the financial sectors in Mongolia and the PRC, as measured by the full operation of a DIS in each country by end-2013.
Project Outcome
Description of Outcome The R-PATA outcome will be the introduction of deposit insurance systems that are consistent with the IADI Core Principles by end-2012 in the PRC and Mongolia.
Progress Toward Outcome The following activities have been undertaken: (i) conducting the situational analysis of MON banking sector, (ii) drafting the Deposit Insurance Law (pending for the Parliament approval), and (iii) developing the implementation regulations. Additional works in progress are the (i) setting up the deposit insurance agency and the (ii) conducting the public awareness program.
Implementation Progress
Description of Project Outputs

Situational analysis and public policy objectives for DIS by month

Guidelines document for DIS establishment for each country

Draft detailed implementation plan for DIS in each country

Government confirmation of final arrangements for the detailed DIS implementation plans in each country

Status of Implementation Progress (Outputs, Activities, and Issues) The TA's final reports for both PRC and Mongolia were expected to be submitted by end-August 2012. The international consultant is still working on the final reports.
Geographical Location National
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services The consultants will consist of 2 international (8 person-months) and 4 national experts (2 eacy for PRC and Mongolia, total 10 person-months) in deposit insurance legal issues, deposit insurance financing arrangements, and human resources management for deposit insurance.
Responsible ADB Officer Giacomo Giannetto
Responsible ADB Department East Asia Department
Responsible ADB Division Public Mgt, Financial Sector and Regional Coop Division, EARD
Executing Agencies
Asian Development BankHyung Ju Leehyungjulee@adb.orgADB, 6 ADB Avenue, Mandaluyong 1550 Philippines
Timetable
Concept Clearance 14 Apr 2009
Fact Finding 14 Feb 2009 to 17 Feb 2009
MRM -
Approval 27 Aug 2009
Last Review Mission -
PDS Creation Date 14 May 2009
Last PDS Update 28 Sep 2012

TA 7337-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
27 Aug 2009 - 27 Aug 2009 31 Aug 2011 31 Dec 2012 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
0.00 0.00 80,000.00 0.00 0.00 0.00 80,000.00 27 Aug 2009 401,520.56
Title Document Type Document Date
Deposit Insurance Establishment: Technical Assistance Completion Report TA Completion Reports Aug 2015
Deposit Insurance Establishment Technical Assistance Reports Aug 2009

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.