The International Association of Deposit Insurers (IADI) was formed on 6 May 2002 as a non-profit organization constituted under Swiss Law. The Association is a separate legal entity domiciled at the Bank for International Settlements in Basel, Switzerland. IADI was created following the work of the study and working groups on deposit insurance (1999 - 2001). Those groups were formed when the Financial Stability Forum tasked them first to consider the usefulness of setting out guidance and then to develop approaches to help policymakers design and improve the effectiveness of deposit insurance systems. When the Working Group submitted its final report to the Forum in September 2001, efforts soon got underway to form the Association.
Sharing Deposit Insurance Expertise with the World
The objects of IADI are to contribute to the stability of financial systems by promoting international cooperation and to encourage wide international contact among deposit insurers and other interested parties. In particular, IADI:
- Enhances the understanding of common interests and issues related to deposit insurance
- Sets out guidance to enhance the effectiveness of deposit insurance systems taking into account different circumstances, settings and structures
- Facilitates the sharing and exchange of expertise and information on deposit insurance issues through training, development and educational programs
- Provides advice on the establishment or enhancement of effective deposit insurance systems
- Undertakes research on issues relating to deposit insurance and
- Takes such other action as may be necessary or useful for its objects and activities
Governance and Organization
As stipulated in its Statutes and By-laws, the supreme authority in all matters of the Association is the General Meeting of the Members. IADI is governed by the Executive Council composed of individuals elected by the Members. Members of the Executive Council must comply with IADI’s Code of Conduct.
The Executive Council is structured as a working body with broad participation encouraged by means of a committee structure that is largely self-reliant. Seven Standing Committees have been established by the Executive Council to assist the performance of its activities. Much of IADI’s work is initially addressed through the Executive Council and, where appropriate, is carried out through the committees and the Secretariat. All members of the Executive Council serve on at least one of the Association’s six standing committees to which other Members and Associates may join.
As well, Regional Committees have been created for Africa, Asia, Caribbean, Eurasia, Europe, Latin America and Middle East and North Africa to reflect regional interests and common issues through the sharing and exchange of information and ideas.