European Forum of Deposit Insurers (EFDI)
EFDI, European Forum of Deposit Insurers, is the association for European deposit guarantee schemes. Its mission is to contribute to financial stability through cooperation among its members, including identification of best practices.
The FGD collaborates with EFDI on two fronts. It sits on the EFDI’s governing and management bodies, both of which are elected, and takes part in various working and discussion groups. The primary aims of these groups are to: a) identify different practices among deposit guarantee schemes from the stress tests they conduct on their systems and processes; b) analyse aspects relating to the development and establishment of the Banking Union, including the role of deposit protection schemes as mechanisms for efficient management of banking crises or those derived from the future existence of a single European deposit guarantee scheme or third pillar; and c) to prepare the deposit guarantee schemes within the context of international cooperation to cope with a payout event affecting an institution operating in more than one EU Member State.
International Association of Deposit Insurers (IADI)
IADI, the International Association of Deposit Insurers, is a forum for deposit insurers from around the world. IADI’s mission is to contribute to the enhancement of deposit insurance effectiveness by promoting guidance and international cooperation. One of its main functions is the issuance of core principles (Core Principles for Effective Deposit Insurance Systems) and guidance on their implementation.
The FGD has been a member of IADI since 2019 and currently sits on its executive council, together with up to 24 representatives of other funds. It also takes part in various working committees, including the one set up by IADI to promote and review the Core Principles. In addition, the FGD provides technical advice as and when needed to non-EU jurisdictions —under the leadership of IADI— so as to support the process of setting up new or fledgling deposit guarantee schemes there.