The 6th of May 2022 marks the 20th Anniversary of the International Association of Deposit Insurers (IADI). On this date in 2002, IADI was incorporated in Basel, Switzerland, with a mission to share deposit insurance expertise with the world. There is much to celebrate as we reflect on two decades of accomplishments in fulfilling IADI’s key objectives to: “…to contribute to the stability of financial systems by promoting international cooperation in the field of deposit insurance and to encourage wide international contact among deposit insurers and other interested parties”.
Our achievements are the culmination of contributions and hard work of our IADI Members, Associates, Partners, our Secretariat staff, the Bank for International Settlements and our fellow standard setters in the international financial system.
IADI has achieved many notable milestones in our second decade, including playing an integral role as a safety-net standard setting body during times of financial crisis; establishing the IADI Core Principles for Effective Deposit Insurance Systems, assisting in the development of deposit insurance systems around the globe, introducing an extensive training and capacity building program for Members, building the most extensive global data base on deposit insurance in the world, and the issuance of timely and focused research, guidance and policy papers.
The global financial crisis of 2007-09 and the Covid-19 pandemic have highlighted the crucial role of deposit insurance in promoting financial stability on both the local and global level. Along with enhancing the importance of deposit insurance systems, IADI’s role has become integral in strengthening deposit insurance systems and in the process growing to 91 Members, 9 Associates and 17 Partners.
Our collaboration with the BIS and Partners such as the International Monetary Fund, the World Bank and the European Forum of Deposit Insurers have been instrumental in promoting compliance with the Core Principles. BIS General Manager Agustín Carstens expressed his recognition of IADI’s achievements and extended his congratulations on its 20th Anniversary:
IADI has become a truly global institution as well as a key element of the Basel process which comprises all the various groups and organisations hosted by the BIS that promotes financial stability. This is a recognition that deposit insurance has become an integral part of the global financial safety net.
Reflecting on IADI’s accomplishments over the past 20 years, IADI Acting President and Chair of the Executive Council, Alejandro Lopez, Chief Executive Officer of Seguro de Depósitos S.A. SEDESA (Argentina) said:
On the occasion of IADI’s 20th Anniversary, I would like to express my gratitude to the membership, the BIS and all our Associates and Partners for their support and contributions to IADI’s continued growth and success. The importance of deposit insurance and IADI in promoting global financial stability and IADI’s role around the world are now well recognised by the international community.
Please join us in the events we have planned for the rest of the year to celebrate our 20th Anniversary including a 2-day IADI Conference and international “Deposit Insurance Week” in September and the IADI Annual General Meeting planned for October 2022 in Buenos Aires.
In addition, throughout the world many IADI Members are planning their own Anniversary events to celebrate the critical role deposit insurance plays in protecting depositors and in promoting financial stability in their jurisdictions and globally.
Source: International Association of Deposit Insurers
