EFDI is the Association of the Deposit Guarantee Schemes (DGS) of the European Area. It is composed of 56 Members (DGS) representing 44 countries and of 10 Associates representing some European Investor Compensation Schemes.
EFDI was first established in 2002 by 25 founder members whose intention was to create an association for the mutual exchange of information and expertise. In June 2007, EFDI adopted the legal status of an International Non-profit Association under Belgian Law (INPA - AISBL). Its registered office is in Brussels hosted by the European Banking Association. The governance of the Association reflects its private nature. The bodies of the Association are: the General Assembly; the Board of Directors; the Chairman; the Vice-Chairman; the Treasurer; the EU Committee; and staff who carry out the daily management of the Association.
EFDI has relations with major European and International organizations and academia.
EFDI acts to promote European and International co-operation in deposit insurance, crisis resolution and investor compensation. It serves as a forum for discussions and information sharing on common issues, such as (i) exchange of experiences in implanting EU Directives on DGS; (ii) cross-border cooperation in all its aspects; and (iii) monitoring developments in European Regulations on deposit protection and financial stability.
To carry out its mission, EFDI has set up its own EU Committee, as a body of the Association, whose members represent all the EU Member States. This EFDI EU Committee deals with EFDI policy concerning European Union legislation on deposit insurance, following its developments through specific study groups. Recently, a working group on stress tests for DGS has been established as provided for in the DGSD regulations and in accordance with EBA Guidelines.
FITD is a Founder Member of EFDI and is involved in all activities, study, research and working groups.