IADI Sets Strategic Work Priorities for 2025: Strengthening the Core Principles, Addressing Evolving Resolution Practices, and Assessing the Potential Impact of Technological Innovation in Deposit Insurance
- IADI will launch a public consultation on its review of the international deposit insurance standard “Core Principles for Effective Deposit Insurance Systems”.
- IADI will review its 2006 Resolution Guidance to reflect evolving bank failure resolution practices and improve cooperation among deposit insurers, supervisors, resolution authorities, and central banks.
- IADI will analyse the impact of digitalisation, artificial intelligence, tokenisation, and digital currencies on deposit insurance systems.
Tokyo, Japan, 15 November 2024 – The International Association of Deposit Insurers (IADI) successfully concluded its 80th Executive Council, Annual Conference and 23rd Annual General Meetings (AGM) today. The events were hosted by the Deposit Insurance Corporation of Japan.
During the meetings, IADI members reviewed the progress towards the Association’s strategic objectives. In a significant move, the Executive Council adopted its work priorities for 2025, with a prominent focus on finalising the review of the Core Principles for Effective Deposit Insurance Systems. Leading this critical initiative, the High-level Steering Group, chaired by Leah Anderson, President and CEO of the Canada Deposit Insurance Corporation, has developed a comprehensive proposal. This proposal is set to be published for consultation later this year, inviting valuable insights and feedback from stakeholders.
To address evolving bank failure resolution practices, IADI will initiate a review of its 2006 Resolution Guidance. This review will include examining cooperation arrangements among deposit insurers, supervisors, resolution authorities, and central banks to ensure effective coordination in preparing for and managing bank failure resolutions.
The Executive Council also discussed the potential impact of technological advancements, such as digitalisation, artificial intelligence, tokenisation, and digital currencies on deposit insurance functions and agreed to undertake a comprehensive survey and publish the findings by end 2025.
“Our priorities for 2025 are clear,” said Alejandro López, President of IADI. “We will enhance our Core Principles, strengthen guidance around the involvement of deposit insurance in resolution practices, and embrace technological innovation to ensure our deposit insurance systems remain robust and effective.”
New IADI Members
At the Annual General Meeting, the General Assembly welcomed as new Members: the Financial Services Regulatory Authority of Ontario – FSRA (Canada), Finansiel Stabilitet (Denmark), the Deposit Insurance Corporation, Deposit Insurance Corporation Malawi (Malawi), and the Deposit Insurance Agency – AOD (Bosnia and Herzegovina).
EXCO election and leadership appointments
The General Assembly elected as new Executive Council Members: Alfredo Pallini (Interbank Deposit Protection Fund – Italy), Eloise Williams Dunkley (Jamaica Deposit Insurance), Gregor Frey (esisuisse – Switzerland), Hidenori Mitsui (Deposit Insurance Corporation of Japan), José María Fernández (Deposit Guarantee Fund of Credit Institutions – Spain), and Roberto Tan (Philippine Deposit Insurance Corporation – Philippines).
Alfredo Pallini (Interbank Deposit Protection Fund – Italy) and Hidenori Mitsui (Deposit Insurance Corporation of Japan) were elected as First and Second Vice-Chairs of IADI, respectively. José María Fernández (Deposit Guarantee Fund of Credit Institutions – Spain) was appointed as Chair of the Policy Council Committee.
Notes to Editors
IADI is the global standard-setter for deposit insurance systems, aiming to strengthen these systems worldwide and contribute to financial stability. IADI currently has 99 deposit insurers as Members from 96 jurisdictions, and 11 Associates.
Alejandro López, CEO of Seguro de Depósitos Sociedad Anónima (SEDESA, Argentina) is IADI President and Chair of the IADI Executive Council. The IADI Secretariat is based in Basel, Switzerland, hosted by the Bank for International Settlements.
For more information, visit our new website www.IADI.org.