IADI work priorities for 2024
IADI Executive Council sets work priorities for 2024 and announces review of the international standard for deposit insurance systems
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IADI Executive Council has set its work priorities for 2024 to apply the lessons from the 2023 banking turmoil for deposit insurance systems and to revise the international deposit insurance standard (IADI Core Principles).
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IADI Executive Council approves changes to its Council Committee structure and terms of reference to streamline operations, enhance strategic oversight and improve IADI’s responsiveness to global financial challenges.
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IADI Executive Council appoints Leah Anderson, President and Chief Executive Officer (CEO) of the Canada Deposit Insurance Corporation (CDIC), to lead the review of the Core Principles.
The Executive Council of the International Association of Deposit Insurers (IADI) met in Basel to set its work priorities for 2024. The review and update of the international standard for deposit insurance systems (“Core Principles for Effective Deposit Insurance Systems”) is at the heart of the 2024 work programme. The Executive Council asked Leah Anderson, President and Chief Executive Officer (CEO) of the Canada Deposit Insurance Corporation (CDIC), to lead this effort as Chair of the High-level Steering Committee.
Leah Anderson said: “The review of the IADI Core Principles is a critical and timely initiative to ensure that the global standard for deposit insurance systems remains relevant and effective in the evolving financial environment and is adaptable to the ongoing and rapid changes in financial systems due to technology and other emerging trends.”
At its meeting, the Executive Council also approved changes to its Council Committee structure to better align with its strategic objectives and to streamline operations, enhance strategic oversight, and improve IADI’s responsiveness to global financial challenges.
The Executive Council appointed
- Yvonne Fan, Executive Vice President, Central Deposit Insurance Corporation, Chinese Taipei, as Chair of the Analysis Council Committee, which will monitor financial and banking developments, identify challenges for deposit insurance systems and crisis management, and lead efforts in data collection and research to support deposit insurance operations and policy development.
- José María Fernández Real, Director of International Affairs and Policy, Fondo de Garantía de Depósitos de Entidades de Crédito, Spain, as Chair of the Policy Council Committee, which will support the development of policies, guidance, and practices to help establish or strengthen deposit insurance systems, taking into account different financial environments.
- Arthur J. Murton, Deputy to the Chairman for Financial Stability, Federal Deposit Insurance Corporation, U.S.A, as Chair of the Implementation Council Committee, which will oversee the implementation of deposit insurance system policies in member jurisdictions and the provision of technical assistance, capacity building and training for the implementation of the IADI Core Principles and related policies.
- Julia Oyet, Chief Executive Officer, Deposit Protection Fund of Uganda, as Chair of the Internal Control Council Committee, which ensures compliance with the organisation’s policies.
- Marija Hrebac, Chief Executive Officer, Croatian Deposit Insurance Agency, as Chairperson of the Planning Council Committee, responsible for strategic financial planning and performance monitoring in line with IADI’s strategic priorities.
The Executive Council believes that the new Council Committee structure will greatly enhance IADI's ability to respond effectively to the evolving needs of its members and the global financial community.
Notes to editors
IADI is the global standard-setter for deposit insurance systems. The objectives of the Association are to strengthen deposit insurance systems worldwide and to contribute to the stability of financial systems.
IADI currently has 97 Members, 11 Associates, and 17 Partners. The Chair of the IADI Executive Council and President of IADI is Mr Alejandro López, CEO of Seguro de Depósitos Sociedad Anónima (SEDESA, Argentina). The IADI Secretariat is led by Eva Hüpkes, Secretary General, and is based in Basel, Switzerland, hosted by the Bank for International Settlements.
For further information on IADI, please contact Juan Lopez.