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The Bankers Association of the Republic of China
The Bankers Association of the Republic of China
The Bankers Association of the Republic of China
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Introduction
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HISTORY AND FUNCTIONS OF THE BANKERS
ASSOCIATION OF THE REPUBLIC OF CHINA (BAROC)

A. Membership

       

The Bankers Association of the Republic of China (hereinafter referred to as BAROC) was founded on August 9, 1983 as the successor to the Bankers Association of Taipei. Most of its members are banks. Within its membership there are 62 financial institutions, including 36 commercial banks, two industrial banks, one export-import bank, one agricultural financial bank, 16 financial holding companies, the Chunghwa Post Co., four bills finance companies, and one securities finance company. As of year-end 2015, the total assets of all BAROC member banks combined stood at NT$42.66 trillion, their combined loans outstanding stood at NT$25.65 trillion, they employed roughly 145,000 persons, their pre-tax earnings totaled NT$320.6 billion, and profitability was at an all-time high.

Proposals regarding important matters arising among BAROC members are discussed and decided upon at monthly joint meetings of the boards of directors and supervisors. According to the Charter of BAROC, the Board of Directors is composed of 33 directors and 6 alternate directors; while the Board of Supervisors is composed of 11 supervisors and 2 alternate supervisors. In addition, to solicit the views of financial selfregulatory organizations and foreign banks, BAROC has retained representatives of foreign banks as well as the heads of the Financial Information Service Corporation, the Joint Credit Information Center, and other such self-regulatory organizations to serve as advisors and observers for the board of directors. The BAROC chairperson is Dr. Jih-Chu Lee, who is the current chairperson of the Taiwan Financial Holding Company and the Bank of Taiwan.

 

B. Aims and Functions

    1. Aims

        (1) To assist the government in implementing financial policies

        (2) To promote economic development

        (3) To coordinate its members' relationship

        (4) To improve its members' mutual benefits

    2. Functions

        (1) To help implement economic and financial policies and commercial decrees

        (2) To study the balance of funds supply and demand among various sectors in line with economic development

        (3) To formulate and compile common rules and regulations relating to various businesses of its members

        (4) To enhance communications, surveys, statistics, consultations, research, development and publications relating to national and international financial businesses

        (5) To protect the legitimate rights of its members and to help settle disputes among them

        (6) To promote the exchange, analysis and reporting of credit information among its members and to establish the credit files of the major clients of its members

        (7) To consolidate the planning of information systems among its members

        (8) To strengthen mutual support, assistance, education and interaction among the employees of its members, to sponsor activities for public benefit, and to help implement service ethics and self-disciplinary measures

        (9) To participate in international financial organizations and meetings

        (10) To enhance communications and collaborations with overseas bankers associations and to promote national diplomacy

        (11) To conduct research and make recommendations in response to requests from the government or private organizations

        (12) To participate in social charitable activities