News

A press release on FITD Board and SVI Board of Management held today is available in the Communications section.

The FITD and, in particular, the Director General, have been actively involved in the recent initiatives of the International Association of Deposit Insurers (IADI), which in the press release published today outlines the revision of its governance structure, the work plan for 2024 and the resumption of work on the revision of the Core Principles for Effective Deposit Insurance Systems.

The changes are part of the aim to ensure that the Association, in its role as a global standard-setter, maintains an agile, effective, member-driven and inclusive structure in which deposit guarantee scheme and other safety-net participants can engage with each other and work to promote the stability of the financial system.

FITD is active in international cooperation and encourages opportunities for sharing experience and best practices; it supports the international network and promotes occasions for exchanging and debating with deposit guarantee schemes and actively participates actively participates in the definition of standards applied to DGS.

Read the press release

A press release on FITD and SVI Annual General Assemblies of today is available in the Communications section.

It’s now available for download the report "The 2023 banking turmoil and deposit insurance systems. Potential implications and emerging policy issues", published by the International Association of Deposit Insurers (IADI). The Report presents a summary of the main issues resulting from the examination of the recent turmoil experienced in the banking system at the international level, from the perspective of deposit insurance systems and for the purpose of sharing experiences, rules, best practices and strategic perspectives.

Starting from the Report, useful insights can be drawn on initiatives for the development of deposit insurers’ activities, specifically referring to important topics, including: the level and scope of the guarantee, the implications arising from technological innovation on DGSs, the relevance of communication and cooperation between deposit insurers and with other safety net partners, for the definition of a holistic framework of bank crisis management.
FITD supports these in-depth initiatives to share common experiences for the benefit of the DGS community and the financial stability.

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A FITD delegation led by Director General, Alfredo Pallini - IADI Vice President and Chair of the Europe Regional Committee (ERC) - attended the IADI event in Boston hosted by the local deposit guarantee scheme: Massachusetts Credit Union Share Insurance Corporation (MSIC).

In this context, IADI's role as a global standard-setter was also strengthened in the light of the recent U.S. and Swiss banking crises. In particular:

• Statutory amendments have been approved to expand IADI's role as a global standard-setter and recognize the important role of deposit guarantee schemes in contributing to financial stability as important member of the financial safety net.

• A report on the implications of the recent banking crises on deposit guarantee schemes will be published by the end of the year, also as a basis for the revision of the IADI Core Principles for Effective Deposit Insurance Systems scheduled for 2024.

Read more in the attached IADI press release.

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A delegation from FITD participated in the meetings of 3 EFDI Working Groups in which FITD actively collaborates: the Banking Union Working Group, the Cross Border Working Group, and the D3 Working Group.
The Depositor Guarantee Fund of Cooperative Credit Banks welcomed members of the 3 working groups from many European countries at its headquarters in Rome, and multiple issues related to the collaboration of deposit guarantee funds in both stable and crisis situations were discussed. In addition, the revision of the Directive on Deposit Guarantee Schemes in the context of the CMDI framework was addressed.

On 4 and 5 September, FITD representatives participated to the IADI ERC EFDI Joint Conference on “Redefining the Financial Safety Net: Tackling New Challenges and Shaping the Future of Deposit Insurance” hosted by the Association of German Banks (BdB) in Berlin. FITD, as promoter and co-organizer, contributed actively to the organization of the events together with the IADI Secretariat and BdB representatives. Alfredo Pallini (FITD Director General), as ERC Chair, gave its opening and concluding remarks emphasizing the importance of the event in the context of the recent banking turmoil and the Bank crisis management and deposit insurance framework (CMDI) legislative review. Gianluca Grasso (Head of Risk Analysis and Interventions Management, FITD) presented FITD experience in banking crisis interventions as part of Session 2 of the Workshop on “The European Crisis Management and Deposit Guarantee Framework (CMDI) Legislative Package”. The presentation stimulated an interesting discussion on different intervention practices and on the CMDI which is currently a cornerstone of the international debate. The session was moderated by Riccardo De Lisa (FITD Advisor).

In Basel, IADI has organized a series events of the Association: the Biennial Research Conference, the Council Committees and the Executive Council meetings. The Director of FITD, Alfredo Pallini, as Vice Chair of the Executive Council attended these international gatherings.

A FITD delegation attended the EFDI Annual General Meeting and International Conference “Stability in the European Financial Market: The Indispensable Contribution of the DGSs and ICSs to the Safety Net in Regulatory and Environmental Changes”.
FITD contributions at the event were numerous during all the days, in particular at the international conference with a Panel moderation and Speeches.

On 18 April 2023 the European Commission published the legislative proposal on the revision of the crisis management and deposit insurance (CMDI) framework. The extensive set of documents revises in detail the content of the DGS Directive, BRRD and SRM Regulation.
https://ec.europa.eu/commission/presscorner/detail/en/ip_23_2250