Statutes & Bylaws

Organisational Chart

Participants list

Members' Only Site

Upcoming Events Calendar

Events Archive





Published Papers

Public Consultation Projects

Advisory Panel









Press Releases, Speeches and IADI Articles





Past Survey Results




Bank for International Settlements

European Forum of Deposit Insurance

Financial Stability Board

International Monetary Fund

World Bank






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


Welcome to the IADI's e-Newsletter

The International Association of Deposit Insurers (IADI) is pleased to provide the latest issue of its e-Newsletter.
The e-Newsletter keeps you up-to-date on information about IADI activities from July to December 2020, as well as on upcoming IADI activities. 
This issue includes:

Season's greetings from the IADI Secretariat
  Message from David Walker, IADI Secretary General
  Highlights from the 19th Annual General Meeting

Save the Date: 20th IADI Annual General Meeting and Annual Conference
Short summary of Executive Council Meetings
Announcements regarding Secretariat members
  Executive Council approval of new/renewed Chairpersons for the Council and Regional Committees

Update from Strategic Planning Working Group

  Key achievements and updates from the Council Committees and their Technical Committees
  Update from the IADI Secretariat Research Unit and the 2020 Annual Survey
  Update from the IADI Secretariat Training and Capacity Building Unit
Additional events, seminars and conferences (July to December 2020)
New IADI Participants
  Forthcoming events
  New Books and Papers
  Let me express my sincere appreciation to all IADI Members, Associates and Partners for their efforts and support in the furtherance of IADI’s mission over the past six months. The IADI Secretariat looks forward to further contributing to the advancement of IADI in 2021.

We also look forward to seeing you virtually during our scheduled meetings in 2021 and hope and pray that by this time next year we will be able to all meet again.

Happy holidays and the very best for the new year!

     David Walker 
   Secretary General
   International Association of Deposit Insurers

   Season’s greetings from the IADI Secretariat


   Message from David Walker, IADI Secretary General


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 the past six months. The year 2020 has been a difficult year for our membership who have experienced a profound period of adjustment in dealing with the global Covid-19 pandemic.

IADI has faced this challenge by continuing to adapt meet to the needs of Members, particularly in establishing a virtual work environment for the delivery of services.  The Association has been leveraging technology to deliver training and capacity building considering the various limitations on travel and gatherings.

After holding our first virtual Executive Council (EXCO) Meetings on 29 May and 12 June we have gone on to hold virtual EXCO meetings on 14 and 15 September, 2 and 9 December and an Annual General Meeting (AGM) and Extraordinary AGM on 8 December 2020.

For the first time in IADI’s history the Association held elections entirely via correspondence voting during its AGM.  As a result, we are happy to congratulate the General Director of the State Corporation “Deposit Insurance Agency” (DIA Russia), Yury Isaev, who was elected to serve as the Association’s President and as the Chair of its Executive Council for a two-year term. He succeeds Katsunori Mikuniya, Governor of the Deposit Insurance Corporation of Japan (DICJ), who served as President for a three-year term. During his tenure, Governor Mikuniya promoted the Association’s Strategy, including the extension of the current Strategic Plan to 2021. He also enhanced the capacity of the IADI Secretariat and introduced a Differentiated Fee Model (DFM) to provide more substantial benefits to Members and facilitate the implementation of many new programs and activities.

In terms of addressing the Strategic Goals of IADI through the implementation of the current Business Plan, the Secretariat has been joined by a number of additional staff members to enhance IADI’s training and capacity building work, Core Principles compliance assessment and in advancing the Association’s research and policy agenda.

Other important areas where work has continued include the Training and Technical Assistance Council Committee (TTAC), supported by the Secretariat’s Training and Capacity Building Unit (TCBU), which has moved further to establish a Core Curriculum for workshops designed for differing audiences and establishing an Expert Training Strategy. This Strategy seeks to create a structured programme for training IADI Members interested in developing an in-depth knowledge of the IADI Core Principles, becoming capable of leading Self-Assessment and Technical Assistance Program (SATAP) reviews, supporting Technical Assistance Workshops (TAW), and supporting or participating in the IMF/World Bank FSAP reviews and in conducting self-assessments of compliance with the Core Principles.

In other areas, IADI’s Core Principles and Research Council Committee (CPRC) and the Secretariat’s Research Unit (RU) have been working in numerous areas such as the publishing of a Brief on Depositor Preference and Implications for Deposit Insurance and a guidance paper on Risk Management and Internal Control Systems of Deposit Insurers. Meanwhile, the Financial Technology Technical Committee completed its workplan and initiated the development of a series of Policy Briefs.

With respect to IADI surveys, a major accomplishment over the past few months was the completion of the IADI 2020 Annual Survey on Deposit Insurance and Financial Safety-Net Frameworks. Work was also initiated on developing options to enhance the reporting features of the IADI Survey and Database Management System for Members.

The IADI Strategic Planning Working Group (SPWG) continued to work on the development of a new IADI Strategic Plan for the FY 2021/22 to 25/26 period and to review and seek improvements to IADI’s current DFM.  The SPWG is now focusing on constructing four pillars to help develop a strategic map for the Association.  The four pillars involve understanding IADI Member expectations, gathering the contributions of SPWG members and IADI Council Committees on improving the Association, analysing IADI’s Strengths, Weaknesses, Opportunities and Threats (SWOT) and benchmarking IADI with other standard setters.  Meanwhile, the SPWG Fee Subgroup made excellent progress on exploring modifying the current DFM; and, looking at the possible inclusion of additional parameters to the fee model, such as insured deposits.

Moving into the New Year, we look forward to engaging with you at our next virtual EXCO meeting in March 2021, our 6th Biennial IADI Research Conference to be held virtually in May 2021 and many other events. 

The entire IADI Secretariat Team wishes you the very best of success in these challenging times and the new year ahead.


   Highlights from the 19th Annual General Meeting

IADI held its 19th Annual General Meeting (AGM) by correspondence in October-November 2020, and virtually held its Extraordinary General Meeting (EGM), 65th EXCO and 65th bis EXCO Meetings on 2-9 December 2020.
  IADI Elected Yury Isaev as its New President and Chair of the Executive Council

During the elections held during IADI’s AGM, the General Director of the State Corporation “Deposit Insurance Agency” (DIA Russia), Yury Isaev, was elected to serve as its President and as the Chair of its Executive Council for a two-year term. He succeeds Katsunori Mikuniya, Governor of the Deposit Insurance Corporation of Japan (DICJ), who served as President for a three-year term.

General Director Isaev expressed gratitude to the Members for his election, stating, “IADI is an essential element of the global financial safety net and plays an important role in enhancing the effectiveness of deposit insurance systems and in contributing to the maintenance of financial stability around the world. I am grateful to IADI Members for their trust and the honor to serve as President of the Association during the next two years. We will continue our joint work on the implementation of our Strategic Goals to ensure the further advancement of IADI as a standard setting body and in promoting best practices, improving collaboration with other international financial institutions and providing quality services to the membership.”

He went on to recognise the outgoing IADI President, Governor Mikuniya and the DICJ team, for their tremendous contributions and dedication over the past three years in leading the Association and in facilitating the achievement of IADI’s Strategic Goals. During his tenure, Governor Mikuniya took the initiative to promote the Association’s Strategy, including the extension of the current Strategic Plan to 2021. He also received IADI Members’ broad support to enhance the capacity of the IADI Secretariat through the additional hiring of IADI Secretariat staff. Further, he made efforts to introduce a Differentiated Fee Model, giving the Association relevant resources to be able to provide more substantial benefits to Members and facilitating implementation of many programs and activities.

General Director Isaev concluded his remarks by emphasising the crucial role of the Executive Council, Council and Regional Committees, indicating that we need to improve our governance, streamline our decision making process and ensure our focus on the achievement of the Strategic Goals.   

2020 IADI Extraordinary General Meeting of Members on 8 December 2020

  EXCO Election Results

In addition to the election of Mr Isaev during the AGM, the Members elected 10 Members’ Designated Representatives to the Executive Council to fill the vacancies that had arisen, as follows:


Diane Ellis
Federal Deposit
Insurance Corporation
Gregor Frey
Karen Gibbons
Financial Services
Scheme (UK)
Marija Hrebac
Croatian Agency for
Deposit Insurance
and Bank Resolution
Alejandro J. López
Seguro de
Depósitos Sociedad

Katsunori Mikuniya
Deposit Insurance
of Japan
Chantal Richer
Canada Deposit
Insurance Corporation
Purbaya Yudhi
Indonesia Deposit
Insurance Corporation
Piotr Tomaszewski
Bank Guarantee
Fund (Poland)
Williams Dunkley
Jamaica Deposit
Insurance Corporation
  The newly elected EXCO Members shall act in the best interests of the Association, and shall each serve for a three-year term.

The remaining Council members are:

Patrick Déry
Autorité des marchés
(Québec, Canada)
Mohamud Ahmed
Kenya Deposit
Mu’taz Barbour
Jordan Deposit
Giuseppe Boccuzzi
Interbank Deposit
Protection Fund
Michel  Cadelano
Fonds de Garantie
 des Dépôts et de

Daniel  Dominioni
Corporación de
Protección del Ahorro
Yvonne Fan
Central Deposit
Insurance Corporation
(Chinese Taipei)
Muhiddin Gülal
Savings Deposit
Insurance Fund

Zaher Hammuz
Palestine Deposit
Insurance Corporation
Mariano Herrera
Fondo de Garantía de
Depósitos de Entidades
de Crédito

Daniel  Lima
Fundo Garantidor de
Gabriel Limon
Instituto para la Protección
al Ahorro Bancario
Sonja Lill Flø Myklebust
The Norwegian Banks'
Guarantee Fund
Seongbak Wi
Korea Deposit
Insurance Corporation
The following have retired from their respective positions on the EXCO since the previous edition of the e-Newsletter. The Association thanks them for their contributions to the leadership of IADI.
Rafiz Azuan Abdullah
Malaysia Deposit
Insurance Corporation
Michelle Rolingson-Pierre
Deposit Insurance Corporation
(Trinidad and Tobago)
Fauzi Ichsan
Indonesia Deposit
Insurance Corporation
Nikolay Evstratenko
Deposit Insurance Agency
(Russian Federation)
A link to the Press Release on the subject of the Annual General Meeting including its elections, may be found here.

   Save the Date: October 2021 (TBD) - 20th IADI Annual General Meeting and Annual Conference

  Save the Date

The 20th IADI Annual General Meeting and Annual Conference will be hosted by the Seguro de Depósitos SA (SEDESA) in Buenos Aires, Argentina in October 2021 (Tentative/TBD).

The schedule (date, host and venue) is subject to change depending on the situation of Covid-19 pandemic and related restrictions.

More details will be announced in February 2021.

   Short summary of Executive Council Meetings


The 64th and 65th EXCO Meetings were virtually held on 14 – 15 September and 2 December 2020, respectively.

The main agenda item of these two virtual EXCO Meetings was the updates/reports from the Strategic Plan Working Group (SPWG) and its Fee Subgroup. The analysis of the SPWG survey results, and the work plan of the SPWG and the Fee Subgroup were presented at the September EXCO Meeting. Following the active discussion at the monthly meetings of the SPWG and the Fee Subgroup, the Executive Councilmembers had a lively exchange of views at the December EXCO Meeting based on the various opinions provided by respective group members during the past three months.

For more details about the SPWG and the Fee Subgroup, please refer to the section on “Update from the Strategic Planning Working Group” described below.


   Announcements regarding Secretariat members

New Secretariat Member

Mr Keehyun Park joined the IADI Secretariat in August 2020 from the Korea Deposit Insurance Corporation (KDIC).

Prior to joining the secretariat, his focus at the KDIC was responding to the IMF’s Financial Sector Assessment Program (FSAP) to Korea as one of the main contacts for the crisis preparedness section. Before that, he was responsible for managing and reviewing the adequacy of Deposit Insurance Fund’s Reserve Ratio and liaising with the Korean government as secondee to the Financial Services Commission to support its deposit insurance policy making.

The KDIC’s massive mutual savings banking (MSB) sector restructuring has been a big influence in formulating his career. The tasks he participated in include the PCA management and examination of failing MSBs, deposit reimbursement to failed MSBs’ depositors, audits to their bankruptcy estates and redeeming debts derived from the failures. 

He also cherishes the years he worked at the KDIC’s International Affairs participating in the revision of the Core Principles, contributing to the launch of the KDIC’s technical assistance program and collaborating with wonderful colleagues around the globe.

We are pleased to announce the recruitment of Ms Yung-Chen Carole Lin for the Secretariat position of Core Principles and Compliance Assessment Advisor (CPCAA).

Before joining the IADI, Ms Lin worked at the Insurance Bureau of the Financial Supervisory Commission in Chinese Taipei on international affairs and supervision of a reinsurance company. Prior to this, Ms Lin worked as a Policy Advisor in the Secretariat of the International Association of Insurance Supervisors (IAIS) hosted by the BIS. During the time, she was the primary support of the Implementation and Assessment Committee and supported a wide range of the IAIS implementation activities and strategies, including assessments on Insurance Core Principles and other supervisory materials, opportunities for supervisory capacity building and mechanism for supervisory cooperation among insurance supervisors.

Ms Lin joined the IADI Secretariat on 1 September 2020. With her previous in-depth experience in the involvement of a formal core principle compliance assessment programme, she will be responsible for creating a formal approach and developing process and procedures for an assessment framework to monitor compliance levels of the IADI’s Core Principles. The assessment framework will support the Association’s research and training functions to provide Members with information on their gaps in compliance in order to assist in developing action plans and programmes to modernise and upgrade their deposit insurance systems. 

We are pleased to announce the recruitment of Mr Juan Carlos Lopez-Mora for the Secretariat position of Technical Assistance and Capacity Building Analyst (TACBA).

Mr Lopez-Mora joined the IADI from Fogafin, the Deposit Guarantee Fund of Colombia, where he worked as Head of Corporate Communications and Affairs. Here, he was responsible for Fogafin’s institutional communications, along with the foreign affairs initiatives, where he led the participation in international forums and technical committees related to deposit insurance, including the IADI.

With his experience in the development of previous technical assistance and capacity building activities, he will be responsible for creating a strategy to address the requests raised by IADI Members and support them during the implementation process. With this, IADI aims to support its Members to strengthen its capacities and close the existing gaps with the compliance of the Core Principles.

Mr Lopez-Mora holds a Master in Business Administration from Carleton University, Ottawa, Canada, and a Professional Degree in Finance and International Affairs from Universidad Externado, Bogota, Colombia.

He became part of the IADI Secretariat team since 14 October 2020, for a three-year term.

We are pleased to announce the recruitment of Mr Taurai Togarepi for the Secretariat position of Training Assistance Analyst (TAA).

Mr Togarepi was appointed the TAA and joined the IADI Secretariat team on 14 October 2020. Mr Togarepi was with the Deposit Protection Corporation of Zimbabwe since February 2013. He worked in the Business Operations Department before he was promoted to be Manager in charge of Policy, Research and International Affairs in the Chief Executive’s Office in January 2016. Before joining the Deposit Protection Corporation, Mr Togarepi worked in the banking sector. 

His duties included providing policy advice on financial system, planning and coordinating all international activities. Mr Togarepi has been active on most IADI activities including being a member of the IADI Capacity Building Technical Committee, member of the Core Principles Practioner’s Working Group and Working Group member for Promoting Self-Assessments. 

He also worked extensively on IADI’s initiatives as support staff to the former IADI Treasurer and Africa Regional Committee Chairperson. He was the Working Group Coordinator for various workshops and conferences held in the Africa Regional Committee including Zimbabwe, Nigeria, Ghana, Uganda and Tanzania-Zanzibar.

Mr Togarepi in his new role will be responsible for assisting the Senior Training and Technical Assistance Advisor (STTAA) to support the Association’s training functions to provide Member’s with training support to modernise and upgrade their deposit insurance systems. This includes supporting the STTAA’s work on IADI’s Self-Assessment and Technical Assistance Program (SATAP) and working closely with the Financial Stability Institute (FSI) to conduct conferences, meetings and other joint training initiatives on deposit insurance and bank resolution issues and expanding other elements of IADI’s existing training. In addition, he will help undertake the implementation of the core curriculum and a programme for addressing the IADI Core Principles for compliance gaps in Member systems.  

Farewell to former Secretariat member

Ms Myeonghee Song finished her secondment to the IADI Secretariat and returned to the Korea Deposit Insurance Corporation (KDIC) in August 2020. Myeonghee joined the Secretariat in April 2018 as the Senior Policy Analyst. Among her diverse responsibilities, Myeonghee played a key role especially in organising and coordinating numerous IADI events with high level of expertise and versatility in dealing with many professional BIS in-house applications such as CEM Portal and eBIS. More recently, in response to the extraordinary circumstances related to Covid-19, she played a leading role in developing a procedure for organising IADI’s official meetings in a virtual form (Webex), in close conjunction with the BIS.

She was also responsible for the management of IADI public website, Members-only site and FSI-Connect e-learning module, providing technical assistance and guidance through active communication with IADI Members.

Mr Keehyun Park, also of the KDIC, has taken over her role to continue these critical activities of the Secretariat and Association.

We wish to thank Myeonghee for her great efforts and wish her the very best in her future endeavours.


  Executive Council approval of new/renewed Chairpersons for the Council and Regional Committees

  Chairpersons for Council Committee

Further to the EOI process conducted among the current IADI Executive Councilmembers for the vacant Chairperson position of the Training and Technical Assistance Council Committee (TTAC), the EXCO approved the renewed TTAC Chairperson as below:

Chairpersons for two Regional Committees

The EXCO approved the appointment of new Chairpersons for two regions, as follows:

Training and Technical Assistance
Council Committee
Caribbean Regional Committee Eurasia Regional Committee
Diane Ellis
Federal Deposit Insurance Corporation
(USA) for a three-year term
Eloise Williams Dunkley
Jamaica Deposit Insurance Corporation
for a three-year term
Valery Tsialipka
Agency of Deposit Compensation of the Republic of Belarus for a two-year term

   Update from the Strategic Planning Working Group

Since July 2020, the Strategic Planning Working Group (SPWG), and the Fee Subgroup reporting to it, achieved important steps towards completing their respective mandates

  1 The mandate of the SPWG will be to conduct analysis and make recommendations in two specific areas:
    Mandate A
      i. Strategic Goals, activities and deliverables for the next strategic planning cycle (i.e. 2022-26), and
     ii. Organisational capacity, internal processes, human and financial resources needed to accomplish the new Strategic Plan.
    Mandate B
      i. Review the current DFM in consideration of other criteria which could be utilised to differentiate Members into appropriate annual
         fee categories.
    The Fee Subgroup reporting to the SPWG is responsible for providing possible annual fee options to the SPWG (focusing on Mandate B)

As planned, compositions of the SPWG and the Fee Subgroup were finalised by an EOI process. Regional balance, mandate, size and current annual fee level are well represented into both groups. Mr Patrick Déry (Autorité des marchés financiers (AMF), Québec, Canada), the SPWG Leader, nominated Mr Julien Reid (AMF, Québec, Canada) to act as Project Manager for the SPWG and the Fee Subgroup (Ref. Figure 1 and Figure 2). Also, Mr Déry nominated Mr Carlos Colao (Fondo de GarantÌa de Depósitos de Entitades de Crédito (FGD), Spain) to act as Fee Subgroup Leader.

SPWG Leader Project Manager for the SPWG Fee Subgroup Leader
Patrick Déry
Autorité des marchés
(Québec, Canada)
Julien Reid
Autorité des marchés
(Québec, Canada)
Carlos Colao
Fondo de Garantía de
Depósitos de Entidades
de Crédito

The SPWG and the Fee Subgroup held monthly meetings with their respective groups in the past few months. These meetings were followed by Reaching out and Debriefing Sessions accessible to all IADI Members. The aim of those sessions is for the SPWG Leader and the Fee Subgroup Leader to present and explain the work accomplished as well as the work to come in order to ensure transparency and uniformity in the message among IADI Members. It is also an opportunity for Members to give their views on the addressed topics.

Work accomplished by the SPWG

During the last few months, the SPWG worked on four pillars to be used to develop a strategic map, which will serve as the basis for the next Strategic Plan 2022-2026.

Members’ expectations, the first pillar, originate mainly from the results of a Survey on IADI Member’s View of its Strategic Goals and Differentiated Fee Model. This survey obtained one of the highest levels of Member engagement for an IADI survey, with a response rate of 73%. According to the Survey, the Strategic Plan 2022-2026 should be in continuity of the current Strategic Plan. Also, the current fee model should be maintained with some improvements.

The second pillar is the contribution of SPWG members and Council Committees. They were invited to brainstorm on the following three strategic questions: (1) What should we continue?, (2) What should we do more?, and (3) What should we drop?

The SWOT analysis, which consists of addressing strengths, weaknesses, opportunities and threats of the IADI, is the third pillar. This analysis was developed based on inputs from 32 respondents.

The fourth pillar is the benchmarking with other standard setters, namely IAIS and IOSCO. This exercise highlighted the need to add a new goal in the next strategic plan that could be written as follow “Enhancing IADI’s governance to operate efficiently and transparently”. 95% of SPWG members agreed to present this recommendation to the EXCO.

Lastly, SPWG members used those four pillars to build their respective Strategic Map. All Maps are going to be analysed to articulate the broadest consensus in terms of activities to follow in coming years and will be discussed during the next SPWG Monthly Meeting to be held on 16 December 2020.

Work accomplished by the Fee Subgroup

During the last few months, the Fee Subgroup worked on developing fee model options taking into account: a) the views expressed by the Members in the SPWG kick off survey (which mainly supported the current fee model with some improvements); b) direct input received by its Members under the light of the basic principles: simplicity, transparency, fairness and sustainability, and; c) the results of the benchmark analysis with other standard setters.

In this respect, the SPWG approved two major working lines proposed by the Fee Subgroup, which are currently being carried out. A first one, focused on making some modifications to the current fee model (GDP and GDP per capita); and, a second one, based on variations of the current fee model with the inclusion of parameters such as DIS covered deposits. Moreover, the Fee Subgroup continues to gather comments from Members for the potential inclusion and validation of other parameters.

Next Steps

In coming months, both groups will continue to work hard to consolidate ideas into proposals for the development of the new Strategic Plan 2022-2026 and for the revised Fee Model. These proposals will be submitted to EXCO for approval during the 66th EXCO Meeting. The approved proposals will be used as pillars for establishing the next Strategic Plan to be submitted at the AGM in 2021.

Figure 1: SPWG's composition (22 members)

Member DIO and jurisdiction Regional Committee
  Ex Officio    
   1. Patrick Déry (Leader) AMF (Québec-Canada) RCNA
   2. Sonja Lill Flø Myklebust NBGF (Norway) ERC
   3. Yvonne Fan  CDIC (Chinese Taipei) APRC
   4. Mohamud Ahmed  KDIC (Kenya) ARC
   5. Diane Ellis  FDIC (USA) RCNA
   6. Umaru Ibrahim  NDIC (Nigeria) ARC
   7. Seongbak Wi  KDIC (Korea) APRC
   8. Eloise Williams Dunkley  JDIC (Jamaica) CRC
   9. Giuseppe Boccuzzi  FITD (Italy) ERC
  10. Svitlana Rekrut  DGF (Ukraine) EARC
  11. Hugo Libonatti  COPAB (Uruguay) LARC
  12. Zaher Hammuz  PDIC (Palestine) MENA
  13. Chantal Richer  CDIC (Canada) RCNA
  Via EOI     
  14. Nikolay Evstratenko  DIA (Russian Federation) APRC, EARC, ERC
  15. Vusilizwe Vuma DPC (Zimbabwe) ARC
  16. Carlos Colao FGD (Spain) ERC, LARC
  17. Sven Stevenson DNB (The Netherlands) ERC
  18. Thi Thanh Binh Phan  DIV (Vietnam) APRC
  19. Lana Soelistianingsih  IDIC (Indonesia) APRC
  20. Piotr Tomaszewski BFG (Poland) ERC
  21. Alejandro J. López SEDESA (Argentina) LARC
  22. Mohamed Mahraoui  MDUC (Morocco) ARC, MENA
  Project Manager     
       Julien Reid  AMF (Québec-Canada) RCNA

Figure 2: Fee Subgroup's composition (19 members)

Member DIO and jurisdiction Regional Committee
  Via EOI    
   1. Carlos Colao (Leader) FGD (Spain) ERC, LARC
  Ex Officio     
   2. Abdulrasheed Abdulraheem1) NDIC (Nigeria) ARC
   3. Jose Villaret Jr.2) PDIC (The Philippines) APRC
   4. Eloise Williams Dunkley JDIC (Jamaica) CRC
   5. Gregor Frey3) esisuisse (Switzerland) ERC
   6. Natalia Rudukha4) DGF (Ukraine) EARC
   7. Hugo Libonatti COPAB (Uruguay) LARC
   8. Zaher Hammuz PDIC (Palestine) MENA
   9. Rishanthi Pattiarachchi5) CDIC (Canada) RCNA
  Via EOI     
  10. Michel Cadelano  FGDR (France) ERC
  11. Vusilizwe Vuma DPC (Zimbabwe) ARC
  12. Rose Kushmeider FDIC (USA) RCNA
  13. Maarten Lombaert Belgian DGS (Belgium) ERC
  14. Cristina Olmedo COSEDE (Ecuador) LARC
  15. Suleyman Alharahsheh JODIC (Jordan) MENA
  16. Elif Kosoglu SDIF (Turkey) EARC, ERC, MENA
  17. Artur Radomski BFG (Poland) ERC
  18. Alejandro J. López SEDESA (Argentina) LARC
  19. Vincente Vargas Gonzalez IPAB (Mexico) LARC, MENA
  Observer Advisory Panel     
       Jean Roy HEC Montréal (Québec-Canada)  
  Project Manager     
       Julien Reid  AMF (Québec-Canada) RCNA
  1) Delegation from Mr Umaru Ibrahim, NDIC (Nigeria), in his capacity as Chair of the ARC
  2) Delegation from Mr Seongbak Wi, KDIC (Korea), in his capacity as Chair of the APRC
  3) Delegation from Mr Giuseppe Boccuzzi, FITD (Italy), in his capacity as Chair of the ERC
  4) Delegation from Ms Svitlana Rekrut, DGF (Ukraine), in her capacity as Chair of the EARC
  5) Delegation from Ms Chantal Richer, CDIC (Canada), in her capacity as Vice Chair of the RCNA

  Key achievements and updates from the Council Committees and their Technical Committees

  Audit and Risk Council Committee (ARCC) - chaired by Sonja Lill Flø Myklebust, Norway
  • Audited Financial Statements for FY 2019/20: Approved at the AGM held by correspondence in November 2020, and ratified at the EGM held on 8 December 2020.

  • Secretariat Report on the Financial Statements for FY 2020/21 Q1 and Q2: Review completed and the report was approved by EXCO.

  • Appointment of External Auditor for FY 2020/21 ending 31 March 2021: Recommended to EXCO that AGM appoint PricewaterhouseCoopers (PwC) as External Auditor and it was approved at the AGM held by correspondence in November 2020, and ratified at the EGM held on 8 December 2020.

  • IADI Risk Management and Internal Control Framework: Reviewed and approved the updated risk analysis performed by the IADI Secretariat.

  • Accounting principles and audit procedures: Recommended that EXCO consider change/ replacement of the current principles and procedures (in progress).

  • At the request of the SPWG, the ARCC has documented and presented a SWOT analysis of IADI.

 Core Principles and Research Council Committee (CPRC) - chaired by Yvonne Fan, Chinese Taipei
  • Recruitment of Senior Policy and Research Advisor (SPRA) and Core Principles Compliance Assessment Advisor (CPCAA): CPRC Chairperson jointly worked with the Search Committee and Secretary General on selection process. The CPCAA took office in September 2020.

  • Guidance Paper on Risk Management and Internal Control System of Deposit Insurers was published in November 2020.

  • Guidelines for the Development of IADI Research, Guidance and the Core Principles: Work currently underway for its revision. This revised version of the Guidelines aims at enhancing the quality and streamlining the processes of developing IADI research papers.

  • Other papers are being developed at the following CPRC Technical Committees:

    • Islamic Deposit Insurance Technical Committee: The IADI-IFSB Core Principles for Effective Islamic Deposit Insurance Systems (CPIDIS) is being finalised for publication. Research Paper on Shariah Approaches on Resolution of Islamic Banks is still a work in progress.

    • Resolution Issues for Financial Cooperatives Technical Committee (RIFCTC): Currently in the process of finalising the Guidance Points.

    • Coverage Level and Scope Technical Committee: Currently in the process of analysing the survey results, and defining case studies to be incorporated.

    • Financial Technology Technical Committee: A Work Plan, including a publication strategy for Policy Briefs, was approved by the CPRC in November 2020. A standard template for writing up Policy Briefs has also been developed. A Series of Policy Briefs are currently underway.
   Member Relations Council Committee (MRC) - chaired by Mohamud Ahmed Mohamud, Kenya
  • Secretariat Report on the Financial Statements for FY 2019/20 Q1 and Q2, and Cash Management Report per 30 September 2020: Review completed and the report was approved by EXCO.

  • IADI Business Plan and Budgets: Reviewed the draft Business Plan 2020/23 and draft Budgets (FY 2020/21 and FY 2021/22). The Business Plan and Budgets were approved at the AGM.

  • The EXCO approved the following application:

    • Arab Monetary Fund (AMF) as a Partner in September 2020
  • Due to the extraordinary circumstances related to Covid-19 pandemic, many IADI in-person events were cancelled or postponed, and are now being provided in a virtual form. Despite this challenging situation for outreach activities across all regions, some potential jurisdictions showed their interests in joining the IADI. The MRC will continue to support efforts to expand and maintain membership of the Association in conjunction with Regional Committees and the Secretariat.  

   Training and Technical Assistance Council Committee (TTAC) - Chaired by Diane Ellis, United States

The TTAC in coordination with the Capacity Building Technical Committee (CBTC) and the Training and Capacity Building Unit (TCBU), reports the following activities:

  • Expert Training: The Expert Training Strategy (Strategy), which was approved by the Committee in February 2019, is a proposal to develop a structured program for training IADI Members and their staffs in the Core Principles. The strategy outlines a four-staged process for an IADI Member to gain expertise in the Core Principles and become capable of leading Self-Assessment Technical Assistance Program (SATAP) reviews, supporting TAWs, and supporting or participating in the IMF/World Bank FSAP reviews.

The Core Principles Practitioners Workshop (first stage of the Strategy) Working Group Terms of Reference (ToR) was approved by TTAC in May. The working group subsequently began meeting in September and is in process of building the content for the workshop. IADI expects to hold the first Practitioners Workshop in 2021.

  • IADI SATAP: The SATAP provides an assessment of an IADI Member’s deposit insurance agency (DIA). The purpose of the Program is for the review team to work closely with the DIA to identify gaps in its system relative to IADI Core Principles and outline possible steps to address those gaps.

    The CBTC and the Senior Training and Technical Assistance Advisor (STTAA) received official requests for a SATAP review (including a completed self-assessment) from two jurisdictions. The review team has been formed for one jurisdiction and is moving forward as planned with the offsite work. The other jurisdiction is working with the TCBU to finalize the additional documents required to begin reviewing their submitted self-assessment.

  • In July, TTAC approved the Guidance on Conducting Self-Assessments of Compliance with the Core Principles paper. The purpose of this guidance is to encourage IADI Members to perform a self-assessment of compliance with the IADI Core Principles, and to inform Members of the resources available to help them in this endeavour.

    As an assessment tool, the CPs can be used to identify gaps in the regulations and policies governing deposit insurance systems, and for evaluating the practices of deposit insurers. In addition, self-assessments are a good diagnostic element in preparation for third-party reviews, including IADI SATAP evaluations, peer-reviews and thematic assessments conducted by the FSB, or IMF and World Bank Financial Sector Assessment Program (FSAP) evaluations.


  Update from the IADI Secretariat Research Unit and the 2020 Annual Survey

  Response to the Covid-19 crisis

The IADI Secretariat and Research Unit (RU) have worked on a number of initiatives in response to recent developments in the global economy relating to Covid-19. A briefing note has been prepared titled “Ensuring Business Continuity and Effective Crisis Management Activities for Deposit Insurers”.

On the 26th of March 2020, IADI distributed a survey to the membership on the impact of the Covid-19 pandemic crisis on their financial sector and the measures taken by regulatory authorities and deposit insurers to address the crisis. A summary of key results from the IADI Covid-19 survey is now available and the full set of Survey responses can be found here.

Additional Covid-19 statistical resources available on the IADI eBIS website include:

  • Results from the Bank Guarantee Fund (Poland) questionnaire to all IADI Members on policy responses to the Covid-19 pandemic crisis.
  • Results from the IADI Asia-Pacific Regional Committee survey of its Members on the topic of Covid-19 implications and responses.

The IADI Research Unit will facilitate a follow up survey on Covid-19, currently scheduled for January 2021.  This survey collection will seek to reveal developments that may have emerged since the initial response of deposit insurers to the Covid-19 pandemic.  A summary of results and full survey data file will be made available to all IADI Members for their benefit.

CP monitoring and compliance assessment

The CPCAA joined the RU in September 2020 and initiated work in areas such as:

  • The development of processes and procedures for implementing a CP thematic assessment programme, a more formalised measure, to monitor, collect and analysis information on Members’ compliance levels of CPs in order to help identify any strengths and gaps in Member deposit insurance systems and obtain a global compliance picture.
  • The programme will complement existing self-assessments, IADI SATAP, FSAPs and other means of assessing gaps between existing and desired outcomes. Results of the new programme will be used to provide input to the CPRC, TTAC and their supporting Technical Committees and help target IADI researches, guidance and training and technical assistance initiatives to assist Members to improve their systems.

  • A draft “Overview of other Financial Sector Standard-Setting Body assessments & IADI Core Principles Compliance Assessment Framework” was completed and presented to TTAC and CPRC for initial comments and feedback in November 2020.

  • A more detailed proposal with proposed assessment methodology and procedures will be presented for review and discussion in Q1 2021.

Research Initiatives

The RU published IADI Brief No. 4 titled Depositor Preference and Implications for Deposit Insurance. This note explores the different types of depositor preference, the advantages and disadvantages of depositor preference and the issues arising in the context of depositor preference that are relevant for deposit insurers.

IADI Brief No. 5 titled The Geographic Dynamics of Deposit Insurance is being reviewed by the CPRC and is expected to be published in early 2021.  Further papers in the series are being prepared, with the next two topics focussing on the potential of machine learning for deposit insurers, along with the evolution of deposit insurer resolution toolkits.

A research plan has been developed for review by the CPRC on determining gaps in deposit insurance reimbursement practices and procedures.  To complement this work, a member survey facilitating the collection of relevant data items is underway.

Other research and policy initiatives in progress by the RU, include a draft paper on digital stored value products (developed jointly with the Alliance for Financial Inclusion).  There has also been considerable engagement with the CPRC and Islamic Financial Services Board on developing IADI Core Principles for Islamic Deposit Insurance Systems.

2021 IADI Research Conference

The International Association of Deposit Insurers (IADI) invites research papers for its Sixth Biennial Research Conference to be hosted by the Bank for International Settlements in Basel, Switzerland and held virtually during the week of 10-14 May 2021.

The theme for the Research Conference is “Navigating the New Normal for Financial Stability, Deposit Insurance and Bank Resolution”. This year’s theme takes into account how international crises continue to shape the landscape for financial stability, deposit insurance and bank resolution.  A decade past the global financial crisis, the world’s financial system is in the midst of a new series of shocks and challenges emanating from the Covid-19 pandemic.

This IADI Biennial Research Conference will provide a forum to take stock of and explore the implications of these developments as well as examine other issues influencing financial stability, deposit insurance and bank resolution.

Research papers and panel presentations will be posted on the IADI Members Only website, accessible to registered participants only, subject to the permission of authors, Research Conference proceedings will be published.

To find the details, please see the News section of IADI public website.

2020 IADI Annual Survey

The 2020 Annual Survey went live in July 2020. This included an amended questionnaire designed to better capture contemporary issues in global deposit insurance. All IADI Members, Associates, Partners and stakeholders were encouraged to participate in this important exercise. The IADI Annual Survey forms the most comprehensive source of deposit insurance information globally, and is utilised extensively for research initiatives and policy decision making. We extend our appreciation to IADI Members, Associates and Partners for their continued support to the IADI data and research initiatives. Results were published on 30 November 2020.

Overall, the survey results show that jurisdictions continue to strengthen their deposit insurance systems and are moving towards greater compliance with the IADI Core Principles for Effective Deposit Insurance Systems.

To find the details, please see the 15 Key features (available on the IADI public website), full data (eBIS sign-in is required), and the press release.

2020 IADI Chart Pack

The inaugural IADI Chart Pack was published earlier in 2020. This new product offers a snapshot of the key characteristics of deposit insurance systems from around the world.

The IADI Chart Pack is arranged into four themes focusing on deposit insurer structure, coverage and funding, reimbursement and resolution activities, public awareness and financial inclusion.

The full IADI Chart Pack is available on IADI’s website, including French and Spanish translations. Any queries regarding the IADI Chart Pack and deposit insurance database can be addressed to Ryan Defina of the IADI Secretariat Research Unit.

Call for Paper Proposals

The IADI has recently circulated a call for proposals for external research and policy papers. This provides an opportunity for academics and policy makers to submit their research proposals for topics relevant to deposit insurance and financial stability. Selected proposals will receive funding and support from IADI.


  Update from the IADI Secretariat Training and Capacity Building Unit  

  Expert Training Working Group

During the second semester of 2020, the Expert Training Strategy has shown important results. Five Expert Training Working Group (ETWG), the second stage of the Strategy, pilot test training sessions have taken place during the second semester of 2020 and will allow IADI to expand its roster of experts 2.5 times, from 6 to 21 experts by 2021.

With this expanded number of experts, IADI aims to continue supporting the assessment of compliance with the Core Principles by having at least one expert per Regional Committee. This will also contribute to the development of other requirements such as thematic reviews, regional training initiatives and other capacity building activities.

Remote Training Guidance

The Covid-19 pandemic created areas of opportunity for IADI in terms of developing new mechanisms to deliver capacity building. The STTAA developed Remote Training Guidance detailing the different types of training that can be conducted virtually, tools available for virtual training, and issues and benefits that are unique to virtual training. IADI has placed a priority on being responsive with virtual solutions to address member needs on the training side.

FSI-Connect Tutorials

The major update of two suites of tutorials, the Core Principles for Effective Deposit Insurance Systems and Reimbursing Depositors, is in progress. The full update is expected to conclude mid-January 2021.

Virtual Events

The Latin America Regional Committee (LARC) held a webinar, hosted by COSEDE (Ecuador), which focused on Core Principle 15. The presentations covered, among other issues; the essential elements for the effective payment of deposit insurance and the capacity to carry out the reimbursement process quickly, pre- and post-closing activities, scenarios and simulations and ex-post review of the bankruptcy of a financial institution. More than 170 participants attended the virtual event.

The FSI and IADI jointly hosted a webinar on the “ongoing and expected impact of the Covid-19 crisis on resolution authorities and deposit insurers” on 22 and 24 September. The four sessions, held across two days, focused on risks to the banking sector and impact of the Covid-19 pandemic on deposit insurers and resolution authorities, as well as on the heightened contingency planning and preparedness measures implemented as a result. Over 400 participants attended the virtual event, with 250 from the IADI community.

The Asia Pacific Regional Committee (APRC) held a virtual event, hosted by the Korea Deposit Insurance Corporation (KDIC) on “A Deep Dive into the Differential Premium System”. The presentations focused on implementation of differential premium systems. The webinar was attended by more than 94 participants from the Asia Pacific Regional Committee.

  Upcoming Virtual Events

The Middle East and North Africa Regional Committee is planning to host a virtual event on 21 January 2021 on IADI Core Principle 4 : Coordination and cooperation between deposit insurers and other safety-net players in normal times and in crises. More details will be made available in December 2020.


  Additional events, seminars and conferences (July to December 2020)

IADI-LARC WEBINAR FOR THE AMERICAS: Core Principle 15: payout time, process, and information requirements, 31 July, Virtual

A webinar themed “Core Principle No. 15: Payout Times, Processing and Information Requirements” was held on 31 July 2020, among more than 170 participants from deposit insurers of 22 countries were part of this event. The webinar was organised by the Deposit Insurance, Liquidity Fund and Private Insurance Fund Corporation (COSEDE) of Ecuador in collaboration with the IADI Secretariat and with the support of the Latin American Regional Committee (LARC), and addressed topics related to the essential elements for the effective payment of deposit insurance and the capacity to carry out the reimbursement process quickly were covered, including pre- and post-closing activities, scenarios and simulations, ex-post review of the bankruptcy of a financial institution, among others of great interest and relevance for deposit insurers worldwide.

The webinar had the participation of David Walker - Secretary General of IADI, who discussed the standards, data and new developments around the deposit insurance payment; Ruben Lechuga Ballesteros and Vicente Vargas Gonzalez from the Bank Savings Protection Institute (IPAB) of Mexico who shared the experience of the deposit insurance payment during the pandemic, the case of Banco Ahorro Famsa; Galo Cevallos and Tyler Cavaness from the U.S. Federal Deposit Insurance Corporation (FDIC) who addressed issues related to the FDIC's experience in the processes that take place before, during and after the forced liquidation of a financial institution and the deposit insurance payment process; Luis Velasco of COSEDE presented Ecuador's experience in the SATAP Program (Self-Assessment Technical Assistance Program) in the area of deposit insurance payment, its action plan and challenges. The event was moderated by Juan Carlos López of FOGAFIN of Colombia.

The webinar made possible the exchange of experiences and knowledge, and also to learn from first-hand strategies to achieve payments in 7 business days or less.

The 18th APRC Annual Meeting, 25 August, Virtual

On 25 August, Korea Deposit Insurance Corporation (KDIC) virtually hosted the 18th IADI APRC Annual Meeting, which was attended by approximately 60 participants from 18 organisations.

Regarding approval items, Mr Rafiz Abdullah was reappointed by the APRC as the Research Technical Committee (RTC) Chairperson for a 2-year term. The hosting terms of APRC events were approved; host CEO Dialogue annually and Study Visit biennially.

Regarding reporting items, Mr Chayong Yoon gave a report on APRC events and activities during the period May – August including KDIC-PIDM APRC Webinar, IDIC Multilateral Meeting, and PIDM-SEACEN Webinar. Mr Jose Villaret reported on the publication of the 4th issue of APRC Net and Outreach activities. For the APRC RTC, Mr Abdullah gave an update on the on-going initiatives including MOU Template, Cross-Border Cooperation Paper, and Fintech Paper. Mr Abdullah also identified potential research topics based on the APRC Survey result. For the APRC Training and Assistance Technical Committee (TATC), Mr Taewook Chang reported on current TATC initiatives including technical assistances and shared repository. Lastly, Mr Chang reported on Strategic Planning Working Group (SPWG) and Fee Subgroup activities.

There was also a discussion session on establishing new Strategic Plan and revising the current fee model. APRC members provided their opinions on the matter. Members identified areas of improvement for the Strategic Plan; enhance research particularly on resolution, provide members with better benefits such as training and technical assistance. Members also commented that other parameters for the fee model should be considered; parameters that better reflect the nature of organisations, such as deposit insurer’s mandate.

CDIC Global Knowledge-Sharing Initiative, 8-10 September, Virtual

The Canada Deposit Insurance Corporation (CDIC) organized a virtual event entitled “CDIC Global Knowledge Sharing Initiative” from September 8-10, 2020 for the IADI community. The event was offered as part of CDIC’s technical assistance program to assist other deposit insurers who are seeking to develop or enhance their deposit insurance systems.

The first day explored CDIC’s differential premium system and fund management and investment practices. The next day discussed the Corporation’s public awareness campaign and communication strategy with depositors in a resolution scenario. The last day centered on CDIC’s corporate risk management framework which includes the enterprise risk management function, contingency plan testing programs, and corporate strategy. In order to enrich the learning experience of the participants, there was a Question & Answer session each day and supplemental resources were provided through a temporary event website. The number of participants was also limited to 150.

Presentation decks of the webinar can be found in the IADI Repository of Knowledge Events on the Members’ Only website (login to eBIS required).

IDIC International Webinar 2020 on “Maintaining Financial System Resilience to the COVID-19 Black Swan: Deposit Insurance Strategic Responses and Policy Options”, 16 September, Virtual

The Indonesia Deposit Insurance Corporation (IDIC) held its annual International Seminar as a webinar this year entitled "Maintaining Financial System Resilience to the COVID-19 Black Swan: Deposit Insurance Strategic Responses & Policy Options" on the 16 September 2020. This event was attended by 362 participants on Webex Event, 165 viewers on YouTube live streaming, and was subsequently published by 25 publishers on online news, social media, and electronic media.

As various experts in the field, from the World Bank Group, Federal Deposit Insurance Corporation (FDIC), and Deposit Insurance Agency (DIA) of Russia, were brought together to deliver a series of presentations and panel discussions, this webinar invoke discussions on the latest global economic conditions and responses or state policies to COVID-19 in order to maintain financial system stability and coordination between financial system safety net institutions during this challenging time, particularly from a deposit insurance corporation or resolution authority’s perspective.

2020 NDIC International Virtual Conference. 22-23 October, Virtual

The Nigeria Deposit Insurance Corporation (NDIC) held its 2020 International Virtual Conference with the theme: “Financial System Stability, Fintech & Emerging Risks: Challenges for Bank Supervisors” from 22-23 October 2020. The objective of the Conference was to promote knowledge and experience sharing amongst key stakeholders on Fintech as well as to provide opportunity to promote broad discussion on policy options to address emerging risks and opportunities associated with Fintech.

The 2-Day event had a total of 540 participants out of which 95 were international participants from 34 countries which are Angola, Azerbaijan, Bahamas, Canada, Chinese Taipei, Colombia, France, India, Indonesia, Ghana, Italy, Jamaica, Kazakhstan, Kenya, Mexico, Malaysia, Morocco, Pakistan, Philippines, Senegal, Serbia, Spain, South Africa, Switzerland, Tanzania, Thailand, Trinidad & Tobago, Tunisia, Turkey, Uganda, Ukraine, United Kingdom, United States of America and Zimbabwe. Local participants at the event were drawn from the NDIC, Central Bank of Nigeria (CBN), Securities & Exchange Commission (SEC), National Pension Commission (PENCOM), Independent Corrupt Practices Commission (ICPC), Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), Chartered Institute of Bankers of Nigeria (CIBN) and Nigerian Universities. Facilitators were drawn from the NDIC; CBN; Bank for International Settlements (BIS), Switzerland; Ernst and Young, India and Central Deposit Insurance Corporation (CDIC), Chinese Taipei.

Ten (10) papers were presented during the 2-day virtual conference. The papers were on Prudential Regulation and Financial System Stability in Nigeria: Pre, During & Post COVID-19; Fintech in Banking: Past, Present & Future; How BigTech and Asian Banks are re-inventing Banking; Restructuring Options of Troubled Bank: Implication of Technical and Financial Assistance to Eligible Financial Institutions; Deposit like products and Deposit Insurance in Nigeria: Supervision and Challenges; The use of Fintech, Regtech and Suptech as Early Warning Signals in the Banking System; Overview of Chinese Taipei’s Digital Finance and CDIC’s Suptech Experience; Consumer Protection in the emerging Fintech Era; Consumer Protection in the emerging Fintech Era; and Cyber risk: threats, trends and implication for banking.

APRC Webinar on Differential Premium System, 6 November, Virtual

On 6 November, Korea Deposit Insurance Corporation (KDIC) hosted APRC webinar. The webinar was titled “A Deep Dive into the Differential Premium System (DPS)”, aiming to provide opportunity for APRC members to share experiences and insights on DPS. Around 120 participants from APRC member organizations attended the event.

In his opening remark, APRC Chairperson and KDIC Chairman Seongbak Wi said that the training event was a timely opportunity to share knowledge on the topic with APRC members as many training opportunities within the region, including the technical assistance and Technical Assistance Workshop (TAW) were either postponed or cancelled this year with the outbreak of Covid-19. In this light, KDIC prepared the webinar on DPS, a topic which was in highest demand in the APRC technical assistance survey conducted in 2019.

Distinguished speakers who shared country cases and experiences on DPS were the following: Mr Rafiz Abdullah, Chairperson of IADI APRC Research Technical Committee (RTC) and CEO of Malaysia Deposit Insurance Corporation (PIDM); Dr Pyeonghoon Chang, Senior Research Fellow of Office of Risk Analysis and Pricing, KDIC; and Ms Lisa Hsi, Director of Business Department, Central Deposit Insurance Corporation (CDIC). The speakers discussed how the differentiated premium system work in their respective jurisdictions, their experiences in implementing the scheme, as well as other issues to consider.

Finally, the webinar ended with an insightful closing remark from Mr Rafiz Abdullah. He commented that the webinar was a good opportunity for members to exchange views and learn from each other, and added that these opportunities must continue to effectively deal with various emerging risks.

KDIC Global Training Program, 24-26 November, Virtual

The Korea Deposit Insurance Corporation (KDIC) held the “2020 KDIC Global Training Program” from 24 to 26 November 2020 virtually. A total of 200 officials from 22 jurisdictions attended this program. The aim of this program is to improve the participants’ practical knowledge and skills in crisis management and resolution.

The course covered various topics and cases in the field of crisis management and resolution, including KDIC’s responses to COVID-19 pandemic and deposit insurance payout. Through the Q&A session and online practice for assessing deposit insurance payouts, the participants actively participated in the program. An expert from Fintech Center Korea and Sogang Business School, Prof Yoo-Shin Jung, was invited as a speaker, and he delivered a the special lecture titled “Korean Fintech Innovation and Its Impact on Korean Financial Market.” During the break, the participants were invited to take a virtual tour by watching four videos (KDIC Head Office, KDIC Global Academy, Korean Cultural Experiences and Chungju Emotional Starlight Tour). Virtual excursion videos can be found on the KDIC YouTube Channel. (Please click here.)


IADI-LARC WEBINAR: FinTech Activities and the Impact of COVID-19, 9 December, Virtual

A webinar themed ““FinTech Activities and the Impact of COVID-19: Specific concerns and challenges from a deposit insurance perspective” was held on 9 December 2020 with more than 80 participants drawn primarily from the Americas region but also from IADI Members across the globe.  The webinar was hosted by the Corporación de Protección del Ahorro Bancario (COPAB), Uruguay on behalf of the LARC.

Diane Ellis, Chairperson of the IADI FinTech Technical Committee and Director, Division of Insurance and Research – Federal Deposit Insurance Corporation, highlighted the major objectives of the Technical Committee for providing IADI Members with up to date information on the rapid changing financial technology and its impact on deposit insurance.

Carlos Cantu, Economist of the Bank for International Settlements Representative Office for the Americas, presented on the paper “Fintech in Latin America: landscape, prospects and challenges”. He highlighted that Fintech has shifted from Asia to other regions in the world, including Latin America where investment in these firms, services and products is increasing. He mentioned the major trends and challenges for financial regulators, as well as the impact of Covid-19 on the growth of these products and services in the region.

Daniel Lima, Chief Executive Officer – Fundo Garantidor de Créditos (FGC), Brazil indicated that some reasons behind the rise of Fintech in Brazil include; unbanked population, poor financial planning and inadequate credit card utilization. He highlighted that in the past almost all banks and other credit institutions were covered by FGC guarantee, and that the contagion rate in these new payment companies’ environment can be much greater than that observed in banks, and could heighten systemic risk.

Sunday Oluyemi the Director Research, Policy and International Relations, NDIC, Nigeria, touched on the impact of Covid-19 including increase in non-performing loans, worsening liquidity positon in the banking sector, increase in cyber fraud and increase in Fintech. He also touched on the concerns for deposit insurers emanating from Fintech and Covid-19.


  New IADI Participants

Join us in welcoming a newest participant, who was approved by EXCO in the second half of this year.

Arab Monetary Fund: Partner

Arab Monetary Fund (AMF) is a Regional Arab Organisation founded in 1976, and has started operations in 1977. Its mission is to lay the monetary foundations of Arab economic integration and accelerating the process of economic development in all Arab countries, and its vision is to be a pioneer Arab regional development institution in the field of economic, financial and currency reforms programs to achieve sustainable growth in the Arab region.

AMF consists of 22 Member countries: Jordan, United Arab Emirates, Bahrain, Tunisia, Algeria, Djibouti, Saudi Arabia, Sudan, Syria, Somalia, Iraq, Oman, Palestine, Qatar, Kuwait, Lebanon, Libya, Egypt, Morocco, Mauritania, Yemen and Comoros.

We thank the AMF for its application and look forward to working more closely with them, as part of the global IADI community. As at the end of November 2020, IADI's membership included 110 participants, including 86 Members, 8 Associates and 16 Partners.

  Forthcoming events

MENA Webinar: Coordination and cooperation between the deposit insurance organizations and other safety net players in normal time and during the crisis time: tough experiences for DISs  

21 January 2021 | Virtual

66th EXCO Meeting    

Week 8-12 March 2021 (Tentative/TBD) | Virtual

IADI Sixth Biennial Research Conference  

Week 10-14 May 2021 | Virtual

5th Americas Deposit Insurance Forum    

Mid-June 2021 (TBD) | Virtual

IADI-FSI Joint Policy Implementation Meeting (Topic TBD)    

15-16 September 2021 | Basel, Switzerland

IADI-FSI-SEACEN Joint Workshop (Topic TBD)    

September 2021 (TBD) | Colombo, Sri Lanka 

20th Annual General Meeting and Annual Conference  

October 2021 | Buenos Aires, Argentina (Tentative/TBD)
Hosted by the
Seguro de Depositos Sociedad Anonima

APRC Technical Assistance Workshop  

December 2021 | Venue: TBD
Hosted by the
Central Deposit Insurance Corporation


  New books and papers

BANKING CRISES IN ITALY 2014-2020: Lessons Learned and Open Issues (Le crisi bancarie in Italia (2014-2020): Insegnamenti e riflessioni per la regolamentazione) (ed. Bancaria Editrice), Giuseppe Boccuzzi, December 2020 (English version will be available soon.)

IADI Guidance Paper, Risk Management and Internal Control System of Deposit Insurers, November 2020

IADI Briefs No 4, Depositor Preference and Implications for Deposit Insurance, October 2020

FSB Report, The Use of Supervisory and Regulatory Technology by Authorities and Regulated Institutions: Market developments and financial stability implications, October 2020

CGAP Working Paper
, Open Banking: How to Design for Financial Inclusion. Working Paper, Ariadne Plaitakis and Stefan Staschen, October 2020

World Bank and CCAF
, The Global Covid-19 FinTech Regulatory Rapid Assessment Study, World Bank Group and the University of Cambridge, October 2020

CGAP Technical Guide
, How to Build a Regulatory Sandbox: A Practical Guide for Policy Makers, Ivo Jenik and Schan Duff, September 2020

CPMI Working Paper
, Payment aspects of financial inclusion in the fintech era, April 2020

World Bank Working Paper
, How Regulators Respond to Fintech: Evaluating the Different Approaches - Sandboxes and Beyond, April 2020

CGAP Technical Note
, Nonbank E-Money Issuers vs. Payments Banks: How Do They Compare? Denise Dias and Stefan Staschen, December 2019


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 86 deposit insurers, 8 Associates and 16 Partners. The IADI is a non-profit organisation constituted under Swiss Law and is domiciled at the Bank for International Settlements in Basel, Switzerland.