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INTERNATIONAL ASSOCIATION OF DEPOSIT
INSURERS
C/O
Bank For International
Settlements
Centralbahnplatz
2
CH-4002 Basel, Switzerland
Tel:
+41 61 280 99
33
Fax: +41 61 280 95 54
Email:
Service.IADI@bis.org
Editor
:
David Walker
Secretary
General
Tel:
+41 61 280 99
50
Fax: +41 61 280 95 54
Email:
David.Walker@iadi.org
Kim
Peeters White
Deputy
Secretary
General
Tel:
+41 61 280 99
33
Fax: +41 61 280 95
54
Email:
Kim.PeetersWhite@iadi.org |
If you would like to subscribe to the IADI Newsletter,
please send an email to webmaster@iadi.org |
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Welcome
to the IADI's e-Newsletter
IADI is pleased to provide the next
issue of its e-Newsletter. The e-Newsletter keeps you up-to-date on
information about IADI activities from August to December 2016, as well
as on IADI upcoming activities. |
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This issue
includes:
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Let me express my sincere appreciation to all IADI Members, Associates and Partners for your efforts, and support, in the furtherance of IADI’s mission over this past year. The IADI Secretariat looks forward to contributing to the advancement of IADI in 2017.
We look forward to seeing you at the meetings in Tokyo, Japan, from 13-17 February 2017, which will encompass the 51st Executive Council Meeting, APRC Technical Assistance Seminar, and the DICJ-IADI International Conference, hosted by the Deposit Insurance Corporation of Japan.
The entire IADI Secretariat Team wishes you the very best of success for the forthcoming year!
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David Walker
Secretary General International
Association of Deposit
Insurers |
Introductory Message from the IADI Secretary General, David Walker
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Welcome message from New Secretary General, David Walker |
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David Walker was appointed Secretary General on 1 October 2016, for a four-year term. Mr. Walker joined IADI from the Canada Deposit Insurance Corporation (CDIC) where he spent over 20 years in roles of increasing responsibility in insurance, risk assessment, policy development and international affairs. Immediately prior to beginning his IADI tenure, Mr Walker held the position of Managing Director of the Executive Office and International Affairs.
Mr Walker is highly familiar with IADI and its work, having been closely involved with
IADI over a long period of time. For example, since 2008, he has chaired the IADI Guidance Group and been Vice Chair of the Research and Guidance Committee. He was instrumental in developing IADI’s first deposit insurance standards, the Core Principles for Effective Deposit Insurance Systems (Core Principles), as co-chair of the Basel Committee-IADI Working Group in 2009. He also chaired an international joint working group that developed the Revised Core Principles, published in November 2014. |
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In addition, Mr Walker has been active in representing IADI on the Financial Stability Board (FSB) Resolution Steering Group and participating in the development of the FSB Key Attributes of Effective Resolution Regimes and its associated guidance and assessment methodology. He has also worked with the IMF and World Bank on their Financial Sector Assessment Program reviews and various technical assistance projects in over 30 jurisdictions. |
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Recognition of the former Secretary General, Gail Verley |
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Gail Verley was Secretary General of IADI from
1 October 2013 until 30 September 2016. During her tenure, she made key contributions in increasing IADI membership to 83 Members, 10 Associates and 14 Partners. In addition, she provided critical support and assistance in the development of the IADI Core Principles and in producing the joint conference with the Financial Stability Institute (FSI) focusing on Crisis Management, Bank Resolution and Deposit Insurance, which is now a key program offering of the FSI, bringing together all safety-net organisations to discuss and debate these critical issues. As one of the originators of the programme in 2009, the importance of this conference today reflects the growing role of IADI to participate in global
financial stability discussions. Ms. Verley was particularly active in developing the framework for a stronger Secretariat to support the Association’s growing needs. |
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Announcements of New Secretariat Members
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Sangjun Lee, a Secondee from the Korea Deposit Insurance Corporation (KDIC), began at the Secretariat in June 2016, taking over from YoungWoon Kim. In Sangjun’s 12 years at KDIC, he has worked in areas such as, Deposit Insurance Policy, Risk Management, Asset Recovery and International Affairs. He has conducted research on various aspects of deposit insurance, as head of interagency coordination on joint examinations and information sharing among safety net participants. During his tenure as Senior Manager of the Asset Recovery Department at KDIC, he worked on the end-to-end recovery process
for collateralised real estate.
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Takayuki Suzuki, a Secondee from the Deposit Insurance Corporation of Japan (DICJ), started at the Secretariat in July 2016. Before this, he served as Director of the International Organisations Team, within the International Department of the DICJ, where he worked closely with other financial safety net partners in Japan and other
jurisdictions.
Whilst at DICJ, Mr Suzuki also managed research focusing on developments related to deposit insurance and failure resolution systems, especially in the United States and Europe, in addition to monitoring the progress of international discussions, including at the G20 and FSB forums, on resolution of failed financial institutions.
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The recruitment process for the newly created Secretariat position of
Senior Research Analyst and Administrator (SRAA) was initiated in the Summer of 2016 and IADI received around 160 applications. The interview process is currently underway and is expected to be completed in early 2017. |
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Highlights from the 15th Annual General Meeting
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IADI held its 15th Annual General Meeting
(AGM) on 27 October 2016 in Seoul, Korea.
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Hosted by the Korea Deposit Insurance Corporation (KDIC), IADI held their
15th Annual General Meeting, Annual Conference, 50th EXCO and 50th bis meetings in Seoul, Korea, on 23-28 October 2016. During his opening remarks to the Annual General Meeting (AGM), the Association President and Chair of the
Executive Council (EXCO), Mr Thomas Hoenig, thanked IADI members for their active support of the Association, and for their participation in the AGM and related activities in Seoul. He went on to summarise the Association’s achievements, noting how Association participation had increased to 107 participants including 83 Members, 10 Associates and 14 Partners.
AGM speakers included, Marina Moretti, Division Chief, Monetary and Capital Markets Department, International Monetary Fund; Jan Nolte, Senior Financial Sector Specialist, Financial & Markets Global Practice, World Bank;
Kumudini Hajra, Senior Policy and Research Advisor, IADI; Fred Carns, Chairperson of the former Training and Conference Standing Committee, IADI; and Yee Ming Lee, Chairperson of the former Data and Survey Standing Committee,
IADI. |
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Revised IADI Governance Structure |
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Background
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IADI has expanded significantly since its establishment in 2002. Membership has grown to 83 deposit insurers, representing over 70% of jurisdictions with explicit deposit insurance systems. IADI is
now recognised as an international standard setter, with the Core Principles for Effective Deposit Insurance Systems (Core Principles) incorporated into the FSB’s global Compendium of Standards. The World Bank and IMF now use the Core Principles to assess
deposit insurance systems and the financial stability frameworks of countries across the globe.
As the recognised international standard setter for deposit insurance, IADI is disseminating the Core Principles, as well as meeting the challenges of the evolving global financial system, while assisting our Members and international partners to incorporate these new standards into their current activities. As with all standard setters, IADI must enhance its role in research and policy development, monitor developments within our membership and strengthen the support for its Members.
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“IADI Strategic Goals: The Way Forward”
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In light of the above, strategic discussions on IADI’s future were initiated, commencing firstly in November 2014 by the EXCO and the Governance Committee (GC), prior to continuing at various meetings throughout the course of 2015. The EXCO and the GC members' discussions included an in-depth review of the strategic direction of the Association, its structure, and its resource base. The review revealed that in fulfilling its vision to share deposit insurance expertise with the world and promote best practice, the Association’s activities had become increasingly diverse - encompassing a gradual enhancement of research, data collection, training and technical assistance, as well as communications and outreach efforts.
In recognition of these successes and the desire to advance IADI as the authoritative voice on deposit insurance, the EXCO identified three strategic goals for the five years (2015-2020):
• promoting deposit insurance system compliance with the Core Principles; • advancing deposit insurance research and policy development; and
• providing members with technical support to modernise and upgrade their systems.
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In addition, the “IADI Strategic Goals: The Way Forward” concept paper” was drafted, detailing the activities and proposed strategy for achieving these goals over the course over the near and medium term. |
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Three Special Working Groups
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Immediately upon his election as President of the Association and Chair of the Executive Council, in October 2015, Mr Thomas Hoenig established three Working Groups (WGs), consisting of EXCO Members, to look at specific aspects of the Association with a focus of helping to achieve the revised Strategic Goals. The WGs established were, the Working Group on a Differential Fee Structure, the Technical Assistance Working Group, and the Governance Working Group (GWG). Chaired by Alejandro López, Chairperson of the Latin American Regional Committee (LARC), the GWG examined the roles, functions and structure of IADI’s governance bodies (EXCO, Standing and Regional Committees) with the goal of identifying potential changes to advance the Association’s implementation of its Strategic Goals. |
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Accepted Proposals and New Governance Structure
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The GWG reported its findings and proposals to EXCO at their meeting in May 2016. These proposals, along with the details of their implementation, were refined and discussed further on the next occasion that EXCO met on 22 September. The key points of the agreed- upon model were: |
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EXCO to adopt an approach similar to a Board of Directors, providing or approving strategy and governance rather than focusing on detailed operational matters.
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The Secretary General to be tasked with the strategic planning and execution/ implementation of the agreed-upon strategy, as approved by the EXCO.
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Creation of Council Committees (currently known as Standing Committees), to replace the seven Standing Committees that had existed, to provide oversight of the association’s priorities and objectives, and the work of the then Subcommittees. The four Council Committees (CCs) comprised one Council Committee for each of the three Strategic Goals above, and a fourth Council Committee to provide oversight for audit and risk:-
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Audit and Risk Council Committee (ARCC)- chaired by Cristina Orbeta, Philippines
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Member Relations Council Committee (MRC)- chaired by Kapal Kumar Vohra, India
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Training and Technical Assistance Council Committee (TTAC)- chaired by Raúl Castro, Mexico
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Core Principles and Research Council Committee (CPRC)- chaired by William Su, Chinese Taipei
The Council Committees, although predominantly made up of EXCO Councilmembers, will also include Designated Representatives of non-EXCO Members.
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Technical Committees, currently known as Subcommittees, established to undertake the work of the CCs. Both EXCO and non-EXCO members, including their staffs, may serve on Technical Committees.
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Regional Committees providing a stronger voice to the regions and
establishing greater two-way communication between the regions and
EXCO. Further, Regional Committees to retain their right to
self-determination, i.e. whether or not two Regional Committees
make a decision to merge.
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Presently, the four CCs have been established, CC Chairpersons have been appointed by EXCO (as stated above), and Expressions of Interest for
membership positions on the four CCs have been issued. |
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Highlights from the 15th IADI Annual
Conference
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Hosted by the Korea Deposit Insurance Corporation (KDIC) on its 20th year anniversary, IADI held its 15th Annual Conference in Seoul, Korea, on 26-27 October 2016, and was attended by over 180 participants, representing around 70 jurisdictions worldwide.
The IADI Annual Conference theme was “Gearing Up for the Next Crisis”, and featured presentations and panel discussions by top policymakers, deposit insurers and prominent academics to discuss, debate and provide insights into key issues affecting the global economy, financial stability and deposit insurance.
Mr Bumgook Gwak, Chairman and President of the KDIC, welcomed the participants to the Conference. He discussed how almost eight years had passed since the global financial crisis of 2008, before outlining the regulatory reforms to fix the fault lines that had led to that crisis. However, he noted increasing concern about the possibility of another financial crisis due to heightened uncertainties in global economic and financial markets. With this backdrop, the Conference would focus on three key topics: how to encourage financial institutions to manage themselves in a safe and sound manner; building more effective crisis response mechanisms in cooperation with other financial safety net partners; and the types of emerging funding frameworks that would help a Deposit Insurer to successfully deal with a crisis.
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In his opening remarks, IADI President Mr Thomas Hoenig, highlighted how important deposit insurance has become in providing stability as public policy evolves. He also stressed the critical role IADI plays as it engages in policy discussions around how to prevent future financial crises and what changes should be made to prepare for and manage potential crises. Mr Hoenig concluded by noting the special opportunity conference attendees would have to consider the progress we have made and the shortcomings we must still address in ensuring financial stability.
Conference attendees were also privileged to be addressed by Mr Eun-bo Jeong, Vice Chairman of the Financial Services Commission, Korea. During his congratulatory address, he recognised IADI for its remarkable achievements over the years. Taking note of the changes in global financial markets and the repetitive nature of financial crises, he strongly urged participating deposit insurers to enhance their ability to prevent a crisis, build effective crisis response mechanisms and have stronger co-operation.
Keynote speakers were Mr Jeung-hyun Yoon (Former Minister, Ministry of Strategy and Finance, Korea), who spoke on the possibility of another financial crisis and ways to avoid it, Mr Iftekar Hasan (Fordham University, USA), who gave his thoughts on the role of the deposit insurer in dealing with a crisis, and Mr William White, who elaborated on crisis management and deposit insurance.
to visit the
official events page.
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Additional Events, Training, Seminars and Conferences (Aug 2016 - Dec 2016)
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APRC Technical Seminar |
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APRC Technical Seminar on Enhancing Asset Recovery- the Asia-Pacific Regional Committee (APRC) held a Technical Seminar from 15-17 August 2016, in Ulaanbaatar, Mongolia, hosted by the Deposit Insurance Corporation of Mongolia (DICoM). The event included sessions on, the Legal Structure and Framework on Asset Recovery on Failed Banks, Effectiveness of Various Tools and Mechanisms for Asset Work-Outs and Recoveries on Problem Banks, Developing and Strengthening Secondary Markets for Non-Performing Loans in Emerging Markets,
and Emerging Challenges and Issues for Deposit Insurers on Asset Recovery in the Aftermath of The Financial Crisis. The Technical Seminar brought together senior representatives from across the region. |
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ARC Annual Meeting and Conference |
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ARC Annual Meeting and Conference- from 1-3
September 2016, the Africa Regional Committee (ARC)
held their Annual General Meeting and Conference in Zanzibar,
Tanzania, hosted by the Deposit Insurance Board of Tanzania. The
theme of the Conference was “Deposit Protection and Mobile Money”, a
theme which has become increasingly relevant within the Africa
region and globally, especially as mobile money has strong links to
financial inclusion within emerging economies. In addition to
presentations by the World Bank and regional Deposit Insurers, a key
note speech was provided to delegates by the Governor of the Central
Bank of Tanzania. A link to the event may be found
here. |
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49th EXCO- Basel, Switzerland- the 49th EXCO Meeting, was held on 22 September 2016, in Basel, Switzerland. Further to the one-to-one consultations held with the large majority of the EXCO members, as well as several Non-EXCO members, by the incoming IADI Secretary General, the focus of the meeting was to discuss the Association’s governance changes and refine implementation plans.
A link to the event may be found
here (Requires log into the IADI Member-only site.) |
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15th Annual General Meeting, Annual Conference, 50th EXCO and 50th bis meetings- in Seoul, Korea, on 23-28 October 2016. See sections 3 and 4 for more details on the Annual General Meeting and Annual Conference, respectively.
A link to the events may be found
here. |
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FSI-IADI Joint Conference |
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FSI-IADI Joint Conference- From 6-8 December 2016, IADI and the Financial Stability Institute (FSI) co-hosted their seventh
Annual Joint Conference on Bank Resolution, Crisis Management and Deposit Insurance Issues,
in Basel, Switzerland. The Conference brought together more than 200
delegates from safety-net organisations from around 75 jurisdictions,
including central banks, resolution authorities, bank supervisors and
deposit insurers. During the conference, experienced speakers from various jurisdictions provided valuable insights in the areas of early warning and intervention systems, resolution tools such as Bail-in and TLAC, case studies on the Lehman failure and Cyprus, and a number of other issues on deposit insurance and financial stability. |
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New IADI Participants
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Join us in welcoming IADI’s
New Member, the Nederlandsche Bank.
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De Netherlandsche Bank (DNB)
The Deposit Guarantee Scheme, which is part of the
De Nederlandsche Bank (DNB), Netherlands, is governed under the Bank Act 1988 and the Act on Financial Supervision. The Scheme has a pay-box mandate with extended but still limited roles and powers, and is government legislated and administered. It covers commercial banks and has 51 member institutions, as at 31 December 2015. As part of the European Union, many of the Scheme’s rules and practices follow those of the European Deposit Guarantee Scheme Directive, as amended.
DNB’s membership in IADI was ratified by EXCO at its meeting in September 2016, and it was represented in its application by Mr Sven Stevenson, Policy Coordinator Deposit Insurance, International Financial Architecture Department, Financial Stability Division at the DNB.
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As at the end of December 2016, IADI’s membership included 107 participants, including 83 Members, 10 Associates and 14 Partners.
for the full IADI Members and Participants list. |
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Forthcoming Events (Jan
to Jun 2017)
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51st Executive Council Meetings, Asia-Pacific Regional Committee (APRC) Technical Assistance Seminar, and International Conference: “The Changing Environment and Deposit Insurers”
13-17 February 2017 | Tokyo, Japan
To be hosted by the
Deposit Insurance Corporation of Japan (DICJ)
A link to the official event
webpage may be found
here.
(Please contact the
DICJ Secretariat for access)
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IADI Technical Assistance Workshop with Middle East and North Africa Regional Committee (MENA) and Africa Regional Committee (ARC)
27-30 March 2017 | Casablanca, Morocco
To be hosted by the IADI Training and Technical Assistance Council Committee (TTAC) and the
Société Marocaine de Gestion des Fonds de Garantie des Dépôts Bancaires (SGFG), Morocco
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Europe Regional Committee (ERC) Annual Meeting and International Conference
5-8 April 2017 | Bari, Italy
To be hosted by the ERC and the Interbank Deposit Protection Fund (FITD), Italy
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Second Americas’ Deposit Insurance Forum & 14th Latin America Regional Committee (LARC) Annual Meeting
24-26 April 2017 |
São Paolo, Brazil
To be hosted by the
Fundo Garantidor de Créditos, Brazil
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52nd Executive Council Meetings
29-31 May 2017 | Basel, Switzerland
To be hosted by the IADI
Secretariat
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4th IADI Research Conference: Designing an Optimal Deposit Insurance System in the wake of Financial Crisis – Theory and Practice
1-2 June 2017 | Basel, Switzerland
To be hosted by the IADI Secretariat and IADI Training and Technical Assistance Council Committee (TTAC).
This Research Conference is held every two years and is
a highlight on IADI’s research calendar of events.
A call for papers, sent out in December 2016, may be found
here.
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Additionally, below is advance notice of further events
scheduled to take place in 2017:- |
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15th Asia-Pacific Regional Committee (APRC) Annual Meeting and International Conference
Week of 17 July 2017 | Yogyakarta, Indonesia
To be hosted by the APRC and the
Indonesia Deposit Insurance Corporation
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16th IADI Annual General Meeting and Annual Conference
53rd and 53rd bis Executive Council, Regional, Council Committee and Technical Committee Meetings
8-13 October 2017 | Québec City, Canada
To be hosted by Autorité des Marchés Financiers (AMF)
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Africa Regional Committee (ARC) Annual Meeting and International Conference
November 2017 (TBD) | Naivasha, Kenya
To be hosted by the ARC and the
Kenya Deposit Insurance Corporation
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(Further information for the registration of these events is to be posted on the IADI website in due course.) |
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Acknowledgement and Celebrations of Members’ Anniversaries
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The International Association of Deposit Insurers (IADI) was formed in May 2002 to enhance the effectiveness of deposit insurance systems by promoting guidance and international cooperation. Members of the IADI conduct research and produce guidance for the benefit of those jurisdictions seeking to establish or improve a deposit insurance system. Members also share their knowledge and expertise through participation in international conferences and other forums. The IADI currently represents 83 deposit insurers, 10 Associates and 14 Partners. The IADI is a non-profit organisation constituted under Swiss Law and is domiciled at the Bank for International in Basel, Switzerland.
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