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Public Consultation on the draft IADI Guidance Paper: "Ways to resolve a financial cooperative while keeping the cooperative structure"

The IADI Secretariat has initiated the public consultation period regarding the draft IADI Guidance Paper: “Ways to resolve a financial cooperative while keeping the cooperative structure”.

This draft Guidance Paper was prepared by the IADI Resolution Issues for Financial Cooperatives Technical Committee chaired by Mr Julien Reid, Senior Director, Financial Institutions Oversight, Resolution and Deposit Insurance, Autorité des marchés financiers (Québec, Canada). The Technical Committee was established under the IADI Core Principles and Research Council Committee.

The draft Guidance Paper sets out guidance points for consideration in the resolution process of financial cooperatives, especially when the cooperative structure is intended to be kept. Some of the guidance points are general to all jurisdictions with financial cooperatives, while others are specific to jurisdictions where financial cooperatives unite under or collaborate with umbrella organisations and/or where institutional protection/stabilisation schemes are available.

The draft Guidance Paper is now available for comments on the IADI website. 

The public consultation period runs from 30 August 2021 until 27 September 2021. Should you have any comments on this paper, please provide them to the IADI Secretariat Research Unit at research@iadi.org by 27 September 2021.

Depositor protection is the key function of a deposit insurer. This updated suite of tutorials will walk you through the key elements involved in an effective payout process, allowing deposit insurers to maintain public confidence and financial stability. 

The suite of four tutorials and its test are now available in the FSI Connect platform. 

No licence yet? Contact IADI Secretariat at Webmaster@iadi.org to check if licences are available for your organisation. 

FSI Connect is the BIS's web-based information resource and learning tool available exclusively to central banks, supervisory authorities, deposit insurers and eligible public sector authorities. It covers primarily international financial regulatory standards and sound supervisory practices, including the latest prudential standards, key guidance on banking and insurance supervision, and relevant accounting and deposit insurance topics.

Remember that each IADI Member and Associate may request up to three FSI Connect licences from IADI; additional licences may be purchased upon request. 

The International Association of Deposit Insurers (IADI) is closely monitoring the current global situation related to COVID-19 and its impact on deposit insurers. At the same time, we have taken a number of steps to safeguard the well-being of our Staff, Members, Associates and Partners while continuing to maintain normal operations.

These include:

• Operating under social distancing and hybrid operations, IADI Members and Secretariat staff are encouraged to hold meetings via conference calls, video and other communication tools;
  (Members delegates who wish for the Secretariat to organise any video / conference calls with other IADI participants, are welcome to address the Secretariat at Service.IADI@bis.org)
• Business travel and physical meetings in Basel subject to prior approval and social distancing;
• Encouraging remote working for Secretariat staff (who remain reachable via email and telephone). 

We will continue to closely monitor the COVID-19 situation and update you on new developments.
If you have any questions, comments or concerns please contact us at: Service.IADI@bis.org