HISTORY AND FUNCTIONS OF THE BANKERS
ASSOCIATION OF THE REPUBLIC OF CHINA (BAROC)

A. History

    The Bankers Association of the Republic of China (hereinafter referred to as BAROC) was founded on August 9, 1983, based on the original structure of the Bankers Association of Taipei. Together with the Bankers Association of Taiwan and the Bankers Association of Kaohsiung, BAROC was formed in accordance with the regulations of the Commercial Group Act, and was approved by the Ministry of the Interior. The Association was located on the eighth floor of No. 46, Kuan Chien Road, Taipei at the time. In January 1984, the Bankers Association of Taipei transferred the national banker association business to BAROC to allow it to take over its overall functions. After Taipei County was upgraded to New Taipei City, the Bankers Association of Taipei County withdrew from the Bankers Association of Taiwan and, in May of 2010, joined the Bankers Association of the ROC and changed its name to the Bankers Association of New Taipei City. The Bankers Association of the ROC now has four association members.

    The Chairpersons of BAROC from the first session of the first General Assembly in August 1983 to the tenth session of the first General Assembly in September 2010 are shown as follows：

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