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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 August to December 2022, as
well as on upcoming IADI activities.
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This issue includes:
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New Years greetings from the IADI Secretariat
Message from David Walker, IADI Secretary General
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 Let
me express my sincere appreciation to all IADI Members, Associates
and Partners for your support in the furtherance of IADI’s mission
during the second part of 2022. We continue to work with our
membership in adapting to the ongoing impacts of the pandemic as
well as adjusting to international crises and a rapidly changing
macroeconomic landscape. IADI is facing these challenges by
continuing to leverage technology and moving forward with an
ambitious agenda for training, capacity building, research and
guidance.
The second part of 2022 has been a time of significant
accomplishments and changes for Members. The Association held its
20th Anniversary International Conference in hybrid format, in
Basel, Switzerland in September, and its 21st Annual General Meeting
of Members (AGM) & Annual Conference in person in Buenos Aires,
Argentina in October 2022. In the AGM, IADI President and the Chair
of Executive Council (EXCO) and 13 new Executive Councilmembers were
elected. In addition, three Chairpersons of the four Council
Committees (CCs) were newly elected in December 2022.
Reviewing and updating the IADI Core Principles (CPs) is
ongoing. During the period, working groups (WGs) established by the
IADI CPs Review and Update Steering Committee (SC), which includes
23 participants from the IADI membership and is well-balanced in
terms of IADI regions and mandates, submitted their consensus views
to the SC. The SC has discussed the proposed changes at a series of
the virtual meetings. In addition, the IADI Research Unit (RU) has
developed a tool to enable Members to analyse a significant volume
of rich survey data that IADI has collected for more than a decade.
Furthermore, important initiatives for providing Members
with technical support to modernise and upgrade their systems have
been carried out. This includes the finalisation of the materials
for the second stage of the IADI CPs expert training program, which
is expected to commence in January 2023. The enhanced roster of CP
Experts will help support the Self-Assessment Technical Assistance
Program (SATAP), as well as various other IADI training initiatives,
including IADI workshops, conferences, and other capacity building
activities.
Farewell message
As we enter into in to the first quarter of 2023, my time
as Secretary General will be coming to an end. It has been an honour
and a privilege to serve the Association and to have played a role
in strengthening IADI’s capacity to deliver services to the
membership. I wish to thank the entire IADI community and, in
particular, the Secretariat staff, secondee-sponsoring
organisations, and the IADI President and Executive Council. I look
forward to working with the incoming Secretary General during the
upcoming year to ensure a smooth transition.
David Walker
Secretary General
International
Association of Deposit Insurers
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Highlights
from the 2022 Annual General Meeting
and the Annual Conference
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.png) IADI held its 21st Annual
General Meeting of Members (AGM) and Annual Conference, 74th Executive
Council (EXCO) and 74th bis EXCO Meetings on 24 – 28 October 2022.
Two hundred and sixty (260) participants from approximately 80
jurisdictions worldwide attended the events.
Chair of the EXCO and President
Election Result
During the elections held during IADI 21st Annual General Meeting of
Members (AGM) on 28 October 2022, Alejandro López, Chief Executive
Officer (CEO), Seguro de Depósitos Sociedad Anónima, Argentina
(SEDESA), was elected to serve as its President and as the Chairman of
its Executive Council (EXCO) for a three-year term.
CEO López thanked the Members for their support of IADI and he looked
forward to working with the membership for IADI to continue to meet
its strategic goals; promoting the IADI Core Principles for Effective
Deposit Insurance Systems (the CPs) and deposit insurance compliance,
advancing deposit insurance research and policy development,
providing Members
with technical support to modernise and upgrade their systems, and
enhancing IADI’s governance by improving efficiency and transparency.
EXCO Election Results
The Members elected 13 Members’
Designated Representatives to the Executive Council to fill the
vacancies that had arisen, as follows:
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Julia Clare Olima Oyet
Deposit Protection Fund of Uganda |
Christa Walker
Canada Deposit
Insurance Corporation |
Mu’taz I Barbour
Jordan Deposit
Insurance Corporation |
Michel Cadelano
Fonds de Garantie
des Dépôts et de Résolution(France) |
Daniel Oscar Dominioni Ghiggia
Corporación de Protección del Ahorro Bancario(Uruguay) |
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Yvonne Y. Fan
Central Deposit Insurance Corporation(Chinese
Taipei) |
Bello Hassan
Nigeria Deposit Insurance Corporation |
Loay Said Hawash
Palestine Deposit Insurance Corporation |
Deepak Kumar
Deposit Insurance and Credit Guarantee
Corporation, Reserve Bank of India |
Daniel Lima
Fundo Garantidor de
Créditos,Brazil |
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Arthur J Murton
Federal Deposit Insurance Corporation
(FDIC), United States |
Adil Utembayev
Kazakhstan
Deposit Insurance Fund |
Chayong Yoon*
Korea Deposit
Insurance Corporation,
1year
*Mr. JaeHoon Yoo replaced Mr. Chayong Yoon in
December |
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The newly newly
elected EXCO Members shall act in the best interests of the
Association, and shall each serve for a three-year term (unless noted
otherwise above).
The remaining Council members are:
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José María Fernández Real
Fondo de Garantía de Depósitos de Entidades de
Crédito (Spain) |
Gregor Frey
esisuisse
(Switzerland) |
Karen Gibbons
Financial Services
Compensation
Scheme (UK) |
Marija Hrebac
Croatian Deposit
Insurance Agency |
Fatin Rüştü Karakaş
Savings Deposit
Insurance Fund (Turkey) |
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Hidenori Mitsui
Deposit
Insurance Corporation of Japan |
Alfredo Pallini
Interbank Deposit Protection Fund
(Italy) |
Purbaya Yudhi
Sadewa
Indonesia Deposit
Insurance
Corporation |
Piotr
Tomaszewski
Bank Guarantee
Fund (Poland) |
Eloise
Williams-Dunkley
Jamaica Deposit
Insurance
Corporation |
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The following have retired from their respective positions on the EXCO
during the past year. The Association thanks them for their
contributions to the leadership of IADI.
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Tae-hyun Kim
Korea Deposit
Insurance Corporation |
Gabriel Limon
Instituto para la
Protección
al
Ahorro Bancario
(Mexico) |
Sonja Myklebust
The Norwegian
Banks'
Guarantee Fund |
ZaherHammuz
Palestine Deposit
Insurance
Corporation |
Diane Ellis
Federal Deposit
Insurance
Corporation (USA) |
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Patrick Mitchell
Federal
Deposit Insurance Corporation (FDIC), United States |
Chantal Richer
Canada Deposit Insurance Corporation |
Yury Isaev
Deposit Insurance
Agency
(Russian Federation) |
Mohamud Ahmed
Kenya Deposit Insurance Corporation |
Patrick Déry
Autorité des
marchés
financiers
(Québec, Canada |
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A link to the Press Release
on the subject of the AGM including its elections, may be
found
here |
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Save the Date:
Februay &
September 2023 – CP Review Steering
Committee & 75th
EXCO, 2023 AGM and Annual Conference
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The Core Principles Review Steering Committee &
The 75th
EXCO and Council Committee Meetings
Meetings of the IADI Core Principles Review Steering
Committee and the 75th EXCO and Council Committee Meetings will be
held on 21- 24 February 2023 in hybrid format, in Basel, Switzerland.
Registration
details and Programme information is available
here.
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The
2023 AGM and Annual Conference
The 2023 AGM and Annual Conference will be hosted
by the Massachusetts Credit Union in Massachusetts, United States in
25-29 September 2023.
Registration details and Programme information
will be available as of early summer 2023.
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Announcement regarding Secretariat member
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New Secretariat Member
Mr Seunghoo Lee joined the IADI Secretariat in October
2022 from the Korea Deposit Insurance Corporation (KDIC).
Prior to joining the secretariat, He worked at the
Office of International Cooperation of the KDIC. He was
responsible for capacity-building programs such as KDIC Global
Training Program. He contributed to the KDIC’s sharing of
experiences with nearly 20 countries around the world by
planning and moderating the programs.
Before he joined the Office of International
Cooperation, He worked in various positions at the KDIC
related to savings bank sector. In the Corporation
Investigation Bureau of the KDIC, he planned and directed the
investigation of default debtor corporations of failed savings
banks. Before that, he conducted due diligence and
participated in negotiations regarding the acquisition of
troubled assets from failed savings banks by the KR&C, an
asset management company owned by the KDIC, through purchase
and assumption (P&A) transactions. He also contributed to the
amendment of the Regulations Concerning the Supervision of
Savings Banks for strengthening safety and soundness standards
for savings banks as a secondee to the Financial Services
Commission.
Farewell to former Secretariat member
 Mr
Keehyun Park finished his secondment to the IADI Secretariat
and returned to the Korea Deposit Insurance Corporation (KDIC)
in December 2022. Keehyun joined the Secretariat in August
2020 as Senior Policy Analyst.
Among his diverse responsibilities, Keehyun played a
key role in organising and coordinating IADI events with high
level of expertise and versatility in dealing with many
professional BIS in-house applications such as CEM Portal and
eBIS. What is noteworthy is, in response to the extraordinary
circumstances after the COVID-19 pandemic, he played a leading
role in establishing a solid set of procedures for virtual and
hybrid meetings of IADI and in organising innumerable
meetings.
He was also responsible for the management of IADI
public and Members only websites as well as for providing IADI
Members with technical assistance and guidance on various
matters through active and flexible communication.
Mr Seunghoo Lee, also of the KDIC, has taken over his
role to continue these critical activities of the Secretariat
and Association.
We wish to thank Keehyun for his great efforts and
wish him the very best in his future endeavours.
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Executive Council approval of new Chairperson for
the Council Committee
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EXCO approved the appointment of new
Chairpersons for the committees, as follows:
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Hightlights from the
the IADI 20th Anniversary International
Conference
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 The International Association of Deposit Insurers (IADI) held
its 20th Anniversary International Conference on 6 - 7 September
2022 in hybrid format, in Basel, Switzerland, titled “Enhancing
deposit insurance and promoting financial stability around the
world: building on the past, preparing for the future…” with 260
participants from more than 75 institutions worldwide attending the
event.
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Key
achievements and updates from the
Council Committees and their Technical
Committees
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Audit and Risk Council Committee (ARCC) |
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Audited
Financial Statements and Auditor’s Report for FY 2021/22 ending
31 March 2022: Approved at the AGM held October 28, 2022, in
Buenos Aires, Argentina.
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Secretariat Report on the
Financial Statements including the Cash Management Report for FY
2022/23 Q2: Review completed and the report was approved by
EXCO.
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Appointment of External
Auditor to conduct annual audit of the financial statements for
FY 2022/23 ending 31 March 2023: Recommended to EXCO that AGM
appoint PricewaterhouseCoopers (PwC) as External Auditor to
conduct the audit and it was approved at the AGM held October
28, 2022, in Buenos Aires, Argentina.
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The IADI Enterprise Risk
Management (ERM) and Internal Control Framework: Continued to
provide recommendations to the IADI Secretariat to improve and
update the risk assessment methodology and reporting for the
implementation of the IADI ERM and Internal Control Framework
guided by the COSO ERM Framework.
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Core Principles and
Research Council Committee (CPRC) |
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The title of the Resolution Issues for
Financial Cooperatives Technical Committee (RIFCTC) was changed to
the Financial Cooperatives Technical Committee (FCTC) and its
workplan including to develop a series of briefing notes on
specific topics of interest for DIs having FCs in their
jurisdictions was approved by the CPRC in March 2022.
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The Periodical Review of IADI Guidance Papers
Technical Committee (PRTC) conducted a comprehensive review on
guidance papers previously issued by IADI, and submitted a report
with a list of priority and recommendations on the update of these
papers. The report was approved by the CPRC in October 2022.
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The Reimbursement Technical Committee (RTC)
developed the first draft of the paper titled Reimbursing
Depositors Now and in the Future: Challenges and Trends. Key
findings were shared with the CPRC and Executive Council (EXCO) in
October 2022. The RTC is planning to submit the final draft to the
EXCO in the first quarter of 2023.
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The Islamic Deposit Insurance Technical
Committee (IDITC) is in the process of developing the Handbook of
the Core Principles for Effective Islamic Deposit Insurance
Systems. The draft discussion paper on the Resolution of Islamic
Banks is under IDITC members’ review and will be shared with the
CPRC.
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The CPRC Chairperson and the Secretariat
Research Unit will prepare the draft Annual Policy and Research
Plan for FY2023-2024 for the CPRC review by February 2023. The
Plan will combine conventional and emerging topics, accommodating
CPRC Members main interest.
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Member Relations Council Committee (MRC) |
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- Membership: Continued to follow up the potential members in
close cooperation with Regional Committees and the IADI
Secretariat.
The EXCO approved the following
applications during the period covered:
- Bank
Deposits Insurance Scheme (Oman) as a Member
(January 2022)
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The Secretariat Website Working Group completed the
following “Short-term” action items: i) reviewed overall website
structure and the Main Menu, ii) introduced homepage banner and
Podcast, and iii) enhanced the Research, Training and Capacity
Building, and Secretariat sections.
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Training and Technical Assistance Council Committee (TTAC)
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The TTAC in coordination with the
Capacity Building Technical Committee (CBTC) and the Training and
Capacity Building Unit (TCBU), reports the following activities:
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Expert Training: The Expert Training
Strategy (Strategy) 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 Technical Assistance
Workshops (TAWs), and supporting or participating in the
IMF/World Bank FSAP reviews.
IADI held the first Core Principles
Practitioners Workshop, the first stage of the expert training
program, in-person in July 2022 in Basel, Switzerland.
The materials for the second stage of the
expert training program, the Expert Training Working Group,
were finalised and submitted to the CBTC and TTAC.
The materials for the second stage of the
expert training program, the Expert Training Working Group,
were finalised and submitted to the CBTC and TTAC.
The Experts Workshop Task Force was
established to develop the third stage of the expert training
program. The EWTF is chaired by the IADI Senior Training and
Technical Assistance Advisor, Eugenia Alamillo, and has begun
the process for preparing materials. Task Force members
include Galo Cevallos (Federal Deposit Insurance Corporation),
Pearl Esua-Mensah (Ghana Deposit Protection Corporation), Ria
Badree (Deposit Insurance Corporation of Trinidad and Tobago),
Vilma Leon-York (US Treasury’s Office of Technical Assistance)
and the IADI Secretariat TCBU.
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Update from the IADI
Secretariat
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Reaseach Unit
IADI Core Principles Thematic Review Programme
Compliance with and implementation of the Core Principles by IADI
Members helps to enhance the effectiveness of deposit insurance
systems, facilitates greater protection of depositors, and promotes
financial stability. The IADI Thematic Review of the Core Principles
Programme is a desk-based approach designed to survey Members on their
adherence with the Core Principles and to gain a global picture on
Member’s compliance levels.
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Round 1: IADI
Core Principles Thematic Review on Organisational Structure
In October 2022, IADI finished the first
thematic review on organisational structure. This covered IADI Core
Principle 1 (Public Policy Objectives), Core Principle 2 (Mandate and
Powers), Core Principle 3 (Governance) and Core Principle 11 (Legal
Protection). Sixty-three IADI Members participated in the survey,
representing 70% of the IADI membership. A report on the thematic
review was prepared by Carole Lin of the IADI Research Unit and the
Review Team on Organisational Structure. The report provides
observations on implementation of the reviewed Core Principles as well
as suggestions for areas of the Core Principles that may require
revisions or guidance. IADI Members can access the report via the IADI
website:
www.iadi.org/en/research/other-papers/
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Round
2: IADI Thematic Review on External Relations
In the second half of 2022, IADI has started working on the
second round of the thematic review. It covers external relations,
i.e. Core Principle 4 (Relationships with Other Safety-Net
Participants), Core Principle 5 (Cross-border Issues), Core
Principle 6 (Contingency Planning and Crisis Management), and Core
Principle 12 (Dealing with Parties at Fault in a Bank Failure). The
review team has been working closely to develop a questionnaire
that, following review by CPRC, has been distributed to IADI Members
in early December 2022. The report should be available to members by
the third quarter of 2023
Research Initiatives
In
August 2022, IADI Fintech Brief No. 9 –
E-Money in Ghana: A Case Study was published. This paper by Samuel
Senyo (Bank of Ghana) and Eugene Yarboi Mensah (Ghana Deposit
Protection Corporation) provides a description of the key features of
e-money in the Ghanaian context. It discusses the factors influencing
the protection of e-money wallets and the float kept with commercial
banks. It presents options to be considered for the possible
protection of these wallets in case of bank liquidation
In October 2022, IADI Fintech Brief
No. 10 –
Prepaid Cards: A Case Study of Japan, the United States and the
European Union was published. This paper by Hiroaki Kuwahara and
Kazuaki Hara (both from the Deposit Insurance Corporation of Japan)
presents a case study in Japan on prepaid payment instruments
stipulated in the Payment Services Act. The brief also looks into
prepaid-type payment instruments issued under the legal frameworks of
the United States and European Union.
Also in October 2022, IADI Fintech
Brief No. 11 –
Islamic Fintech: Nascent and on the Rise was published. This paper
by Mohamad Hud Saleh Huddin, Mark Lee and Mohd Sobri Mansor (all from
Perbadanan Insurans Deposit Malaysia) provides an overview of the
global state of play of Islamic Fintech, and explores Malaysia’s
experience in the regulation and development of Islamic fintech. It
also highlights potential uses of Islamic fintech for deposit
insurance and bank resolution.
In November 2022, IADI Fintech
Brief No. 12 –
Misdirected Money Transfers in Korea was made
available to IADI Members. This paper by Sangjae Lee and Jeongeun Park
(both from the Korea Deposit Insurance Corporation) discusses the risk
of misdirected money transfers and recent legislative changes in Korea
mandating the Korea Deposit Insurance Corporation (KDIC) to assist in
recovering such misdirected payments.
In December 2022, IADI Fintech
Brief No. 13 –
Central Bank Digital Currencies: A Review of Operating Models and
Design Issues was made available to IADI Members.
This paper by Bert Van Roosebeke and Ryan Defina (both from the IADI
Research Unit) reviews key issues relevant to deposit insurers
regarding operating models and design features for CBDC, and links
these to early global policy standards.
 In
August 2022, IADI Policy Brief No. 6 –
How Inflation Impacts Deposit Insurance: Real Coverage and Coverage
Ratio was published. This Policy Brief by Bert Van Roosebeke and
Ryan Defina (both from the IADI Research Unit) considers how inflation
may impact on two key concepts of deposit insurance: coverage levels
and coverage ratios.
In November 2022, IADI Policy Brief
No. 7 -
How Deposit Insurers Account for Inflation: Practices and Existing
Guidance - November 2022 was published. This paper by Bert Van
Roosebeke and Ryan Defina (both from the IADI Research Unit) offers an
overview on how inflation is taken into consideration by international
standards and procedures relevant to deposit insurers. It sets out how
standards guide deposit insurers in incorporating inflation in their
activities and looks at how inflation impacts on coverage review and
change processes applied by deposit insurers. The paper also
distinguishes between a set of decision-making arrangements by deposit
insurers in dealing with inflation.
IADI
VIDA – the new data visualisation and data analysis platform
 IADI
has collected a significant volume of rich survey data for more than a
decade. The IADI Research Unit has developed a tool to generate
insights quickly and intuitively from this information, enabling
members to analyse data for the IADI Annual Survey more effectively
via dynamic dashboards. VIDA (Visualisation for IADI Data Analysis)
was created using Tableau® (proprietary software) to offer a dynamic
representation of IADI survey data that improves analytical and
reporting opportunities through interactive dashboards. The dashboards
are now available to members via the
IADI Data Warehouse.
I ADI
Policy and Research Newsletter
The IADI Research Unit has
initiated a quarterly newsletter designed to become the central source
of information on policy and research issues of relevance to deposit
insurers. Latest editions:
The
2022Q3 edition was released in October 2022 and is available
here.
The next newsletter edition is
scheduled for release in 2023Q1.
IADI Podcast Series
 The IADI Research Unit has initiated an IADI Podcast
Series, using a new channel for disseminating and communicating IADI’s
research as well as other output of interest to the deposit insurance
community. The following podcasts have been made available:
Podcast No. 6 with Ruth Walters, Rastko Vrbaski (both of the Financial
Stability Institute), Bert Van Roosebeke and Ryan Defina (both of the
IADI Research Unit)
o on constraints for deposit
insurers in funding bank failure management.
Podcast No. 5 with Danilo Palermo (World Bank), Bruno
Meyerhof Salama (UC Berkeley Law School) and Bert Van Roosebeke
(IADI Senior Policy and Research Advisor) on Resolution of
State-Owned Banks
The
IADI Podcast Series
is now available on Spotify, Apple Podcasts and all other major
providers. Further episodes will follow on a regular basis.
Research Webinars
10 October 2022
Dalvinder
Singh from the University of Warwick and a member of the IADI Advisory
Panel presented the impact of COVID-related public support on banks
and states in the EU Banking Union
15 November 2022
The IADI Research Unit presented on
the background of VIDA, its key features, how best to utilise these
via real life examples, and plans for future enhancements.
21 November 2022
Hiroaki Kuwahara and Kazuaki Hara
(both from the Deposit Insurance Corporation of Japan) provided a case
study of deposit insurance treatment of prepaid payment instruments in
Japan, the United States and European Union.
2022 IADI Annual Survey
The 2022 Annual Survey results were
published in November 2022. 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 who participated in the survey and for their continued
support to the IADI data and research initiatives.
 Survey results
from the 2022 Annual Survey showed 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 visit
IADI’s Data Warehouse Section, where you can find data on 15 Key features and
an updated Chart Pack. The full data is available to members only on
eBIS (sign-in is required).
IADI also conducted
numerous surveys among stakeholders to gauge perspectives on member
engagement and seeking input to the ongoing IADI Core Principles
review process, along with topics domain-specific topics such as
Fintech organisational management, reimbursement and liquidation
activities, and consideration of ESG issues.
Training and Capacity Building Unit
The Training and Capacity Building
Unit (TCBU) continued to cater to the training needs of the IADI
community through virtual platforms and in-person workshops. In
collaboration with the TTAC and CBTC, the TCBU developed various
capacity-building activities and made progress in the development and
implementation of the Expert Training Strategy, all key components of
the IADI Strategic Goals.
Capacity Building
Financial Stability Institute (FSI) Connect Licenses
As part of the strategy to increase
the use of this valuable membership benefit, the TCBU reached out to
each IADI Member jurisdiction to provide an update on the usage of
their IADI-sponsored FSI Connect licenses for 2022.
FSI Connect Tutorial Update
 The
TCBU updated the tutorial on Public Awareness of Deposit Insurance
Systems. The updated suite of 6 tutorials will be available to
all FSI Connect users in 2023.
Expert Training Strategy
Expert Training Working Group
The materials for the second stage
of the expert training program were finalised and submitted to the
CBTC and TTAC. The second round of the ETWG virtual training is
expected to kick off in January 2023. The TCBU solicited expressions
of interest from the 30 participants that completed the Core
Principles Practitioners Workshop in July 2022.
The expanded roster of CP Experts
will help support the Self-Assessment Technical Assistance Program
(SATAP), as well as various other IADI training initiatives, including
IADI workshops, conferences, and other capacity building activities.
Core Principles Experts Workshop
The process for preparing materials
for the third stage of the Expert Training Strategy is underway with
the Experts Workshop Task Force meeting every two weeks. The process
is expected to be completed in Q2/Q3 with the CP Experts Workshop
scheduled to take place in Q4 of 2023.
Self-Assessment
Technical Assistance Program (SATAP)
Work is ongoing for SATAP reviews
in PDIC (Palestine) and DPC (Zimbabwe). The PDIC review team is led by
the IADI Senior Training and Technical Assistance Advisor, Eugenia
Alamillo, and includes Silvana Sejko (ADIA) and Juan Carlos Lopez
(TACBA, IADI Secretariat). The review team completed the offsite work
and, since it was determined that an onsite visit was not feasible, is
concluding the report following various virtual meetings with key
stakeholders.
The TTAC Chairperson and IADI
Secretary General approved the DPC Zimbabwe request in September 2021
and the SATAP review officially kicked off in January 2022. Tony
Sinopole (FDIC) is leading the review team, which includes Juan Carlos
Lopez (TACBA, IADI Secretariat), Taurai Togarepi (TAA, IADI
Secretariat), Riccardo de Lisa (FITD), Shilpa Shah (FDIC) and Galo
Cevallos (FDIC). The review team meets bi-weekly to complete the
off-site review of the DPC self-assessment. The team has projected the
on-site review for Q1 2023.
Technical Assistance
Technical Assistance Framework
The TCBU created the Technical
Assistance Framework (TAF) to establish a collaborative platform for
delivering peer-to-peer assistance and optimizing the matching process
between Members requesting technical assistance and potential
providers in the IADI community. The TAF, including the related
communications plan, was approved by the CBTC in August 2021. The TCBU
released the 2022 Annual Call in February 2022 to identify IADI
Members and Partners willing to provide bilateral assistance.
The 2022 Annual Call increased the
number of deposit insurers who can provide technical assistance by
65%, resulting in a total of 19 providers.
Bilateral Technical Assistance
By December 2022, seven bilateral
technical assistance requests were completed (ADIA-Albania,
DPA-Thailand, CDIC-Chinese Taipei, BDIS-Oman, DPC-Pakistan (3
requests), and DPC-Zimbabwe). The bilateral assistance process
included the coordination of 35 peer-to-peer assistance sessions.
Virtual
Training Events
The TCBU facilitated and
coordinated virtual events with IADI Regional Committees and IADI
Partner organisations mentioned throughout the newsletter. The TCBU
also supported two (2) IADI Latin America Regional Committee Webinars.
In total twelve (12) training events were delivered with a total of
1,731 participating in these events from IADI Member, Associate and
Partner Organisations.
IADI Insights
The TCBU organized and hosted the
fifth IADI Insights webinar series on Single Customer View: An
Essential Tool for Effective Depositor Reimbursement on 13 October
2022. Ivy Jeuken, Policy Officer for Resolution and DGS of the
De Nederlandsche Bank highlighted the legal framework put in place to
allow the deposit insurer to collect this information and minimum
requirements to be fulfilled by member banks when submitting customer
information for the SCV file.
Blerta Koci, Head of Information
Technology of the Albania Deposit Insurance Agency (ADIA) focused on
Information Technology infrastructure and systems in place for data
storage and data validation processes. Gerardo Suarez, Planning,
Control and On-site Inspection Visits Manager of the Institute for the
Protection of Bank Savings (IPAB) Mexico’s presentation focused on
testing and usability for pay-out and other deposit insurance related
purposes (simulation, public awareness, among others). The webinar was
attended by 215 participants.
The sixth IADI Insights webinar
series on “Banking on Bridges: Lessons from the BFG experience using
the bridge institution tool” was held on 13 December 2022.
The webinar was attended by 126
participants.
Regional Events
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IADI Africa Regional
Committee Annual General Meeting and Conference
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The Deposit Protection Corporation
(DPC), Zimbabwe, on behalf of the Africa Regional Committee (ARC),
hosted the ARC Conference and Annual General Meeting from 29 August
2022 to 2 September 2022. The theme of the conference was “Building
Resilience for Deposit Insurance Systems: The New Normal”. |
The conference was held in a hybrid
format over four days and began with presentations focusing on
emerging issues for deposit insurers, regulatory framework for mobile
money and fintech products and climate change and its impact on
deposit insurance. On the second day, discussions were centred on the
key features of Core Principle 9, backstop and emergency funding
arrangements or mechanisms in the face of systemic failure risk in the
Covid-19 aftermath, optimal fund size and differential premium
systems.
Discussions concluded on day three
with presentations on dealing with parties at fault in a bank failure,
effective legal frameworks for dealing with parties at fault and
country experiences on dealing with parties at fault. The conference
was attended by a total of 134 delegates, with 83 attending in person
and 51 attending via Microsoft Teams.
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IADI ERC
and EFDI Joint Webinar
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The Fondo Interbancario di Tutela
dei Depositi, on behalf of the IADI Europe Regional Committee, hosted
the IADI ERC and European Forum of Deposit Insurers (EFDI) joint
webinar on "Green" Deposit Guarantee Schemes and Non-Financial
Reporting: New Challenges for Deposit Guarantee Schemes. |
The joint webinar discussions began
with a keynote address on green DIS and non-financial disclosure. This
was followed by a round table on financial versus non-financial
reporting by deposit guarantee schemes. The joint webinar was attended
by 93 participants.
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IADI
Africa Regional Committee Workshop
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The Nigeria Deposit Insurance
Corporation (NDIC) hosted the IADI Africa Regional Committee (ARC)
Workshop from 3 - 7 October 2022, on behalf of the ARC Regional
Committee. The theme of the conference was “Normality in Turbulent
Periods: The Stabilizing Role of Deposit Insurance.” |
The workshop began with a
presentation on the Central Bank of Nigeria’s eNaira and implications
for the banking system, as well as an overview of IADI Core Principle
13 (Early Detection and Timely Intervention) and the role of the
deposit insurer in early detection and timely intervention. There were
also presentations on designing and implementing a systemic banking
crisis management simulation, technical and operational aspects of
simulation exercise design and implementation and case studies of
crisis simulation exercises or contingency planning framework. The
workshop concluded with a presentation on how inflation impacts
deposit insurance, real coverage and coverage ratio. The workshop was
attended by a total of 111 delegates with 73 attending in person and
38 attending via Microsoft Teams.
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IADI Asia
Pacific Regional Committee (APRC) Study Visit
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The Indonesia Deposit Insurance
Corporation (IDIC) hosted the IADI APRC Study Visit on 7 and 8
November 2022 on “Cybersecurity and Enterprise Risk Management for
Deposit Insurers”. |
Discussions on the first day focused on
current practices on enterprise risk management frameworks and
cybersecurity applications in deposit insurance. The second day
centred on case studies and discussion exercises around enterprise
risk management, cybersecurity application and digital transformation.
The study visit concluded with presentations of various crisis
simulation exercises. The event was attended by a total of 228
delegates with 158 attending in person and 70 attending virtually.
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IADI Asia
Pacific Regional Committee Workshop
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The Philippine Deposit Insurance
Corporation (PDIC), on behalf of the IADI APRC, held a virtual
workshop and exhibit on “Boosting Depositor Confidence During
Uncertain Times”. The virtual workshop and exhibit were held from 21 –
23 November 2022. |
The virtual exhibit on day one,
exclusively for APRC members, included exhibitors from APRC and the
IADI Secretariat. The second day focused on an overview of Core
Principle 10, a regional perspective of public awareness, and
discussion on increasing depositor confidence through effective public
awareness programs. The third day centred on Core Principle 15, a
regional perspective on reimbursing depositors, and presentations on
reducing uncertainty through efficient payout processes. The virtual
workshop was attended by 235 participants.
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IADI
Europe Regional Committee Workshop
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The Fondo Interbancario di Tutela
dei Depositi, on behalf of the IADI Europe Regional Committee, hosted
the IADI ERC webinar on Core Principle 9: Sources and Uses of Funds
for Deposit Insurers..
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The webinar covered the key
elements of Core Principle 9, the European framework, setting the
target fund level and emergency/backup/alternative funding
arrangements. The webinar was attended by 129 participants.
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Latin
America Regional Committee Webinars
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The Fundo Garantidor de
Créditos (FGC), Brazil hosted the Latin America Regional Committee
Webinar “Aplicación móvil para el pago del seguro de depósitos” on 24
August 2022. The webinar was attended by 41 participants.
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The Fondo de Garantía de
Depósitos de Entidades de Crédito (FGD), Spain hosted the Latin
America Regional Committee Webinar “Intervenciones del FGD para usos
distintos al pago de depósitos: los Esquemas de Protección de Activos”
on 1 December 2022. The webinar was attended by 26 participants.
Events with
Partner Organisations
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IADI MEFMI Joint Webinar
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The first IADI - Macroeconomic and
Financial Management Institute of Eastern and Southern Africa
(MEFMI) joint event took place on 15-17 August 2022. The
three-day event was on Fund Investment Management for Deposit
Insurance Systems. MEFMI is a potential IADI partner. |
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The three-day virtual workshop
began with an overview of the key features of Core Principle 9
(sources and uses of funds). This was followed by three
presentations on deposit insurance funding, including back-up
funding, premium fees, and target fund size. Day two
discussions centred on deposit insurance fund investment, risk
management and creating investment strategies for a deposit
insurance system. The virtual workshop on day three concluded
with a panel discussion on investment management practices in
the IADI Africa Regional Committee and MEFMI regions. The
joint webinar was attended by 150 participants.
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FSI – IADI Virtual Workshop |
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The Financial Stability Institute
(FSI) of the Bank of International Settlements (BIS) and IADI
virtual workshop “One Size Does Not Fit All: Tailoring Failure
Resolution Frameworks for all Banks” took place on 29 and 30
November 2022. |
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The virtual meeting focused on
exploring the challenges of designing resolution regimes and
operational approaches that are appropriate for different
types of banking institution and the structure of local
banking markets. The two sessions covered proportionality and
implementation challenges in designing resolution frameworks
and managing the failures of small banks, financial
cooperatives, and state-owned banks. The virtual workshop was
attended by 369 participants with 212 from the IADI community. |
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New IADI Participants
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Bank
of Ghana –
New
Associate
We thank the Bank for its applications and
look forward to working more closely with the Bank as
part of the global IADI community. As of December
2022, IADI's membership includes 119 participants,
including 92 Members, 10 Associates and 17 Partners. |
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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 92
deposit insurers, 10 Associates
and 17 Partners (as of December
2022). The IADI is a non-profit organisation constituted under Swiss
Law and is domiciled at the Bank for International Settlements in
Basel, Switzerland
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