European Forum of Deposit Insurers - EFDI
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.
International Association of Deposit Insurers (IADI)
IADI is the worldwide association of deposit insurers.
It currently has 80 deposit insurers from 77 jurisdictions. IADI is a non-profit organization, established in May 2002 under Swiss Law. It is domiciled at the Bank for International Settlements in Basel, Switzerland.
Its mandate is to promote international cooperation and provide guidance on DGS establishment and development. It organizes research and analyses into related topics, as well as international conferences and other forums.
The governing bodies of the Association are the General Meeting and the Executive Council. The IADI Executive Council (EXCO) has established four Council Committees: (i) Audit and Risk Council Committee; (ii) Member Relations Council Committee; (iii) Training and Technical Assistance Coumcil Committee; (iv) Core Principles and Research Council Committee. These Committees work in those specific areas on which the activities of the Association is based. There are eight Regional Committees for Africa, Asia-Pacific, the Caribbean, Eurasia, Europe, Latin America, the Middle East and North Africa, and North America. The regional committees provide a forum for issues, information sharing and ideas of common interest affecting members in their regions
IADI has become a standard setter for DGS. The revised IADI Core Principles for Effective Deposit Insurance Systems, released in 2009 and revised in 2014, have been recognized by the Financial Stability Board which added them in the Compendium of Standards, a set of principles for guidance globally.