Representative of the SGFG participated in the 15th Annual General Meeting of the Members of the International Association of Deposit Insurers (IADI), and Annual Conference and 50th EXCO meeting from 23 to 28 October 2016, in Seoul, Korea.
The events were hosted by the Korea Deposit Insurance Corporation (KDIC), and was attended by over 180 participants, representing around 70 jurisdictions worldwide.
SGFG representative attended all key meetings of the committees working within the IADI’s to address important topics such as the evaluation methodology of the Core Principles (link), research, training, data and surveys, regional meetings and a strategic plan and reform of IADI.
SGFG representative also attended IADI MENA Regional Committee meeting where members were briefed on latest progress and future activities were discussed.
During a meeting with the IADI President Thomas Hoenig, it was highlighted the progress made in new strategic direction of the Association, its structure, and its resource base, recognizing the Association’s role as a standard-setter, its partnerships with International Financial Institutions such as the World Bank and IMF, as well as its enhanced role with research, policy guidance, data collection, training and technical assistance, and communications and outreach efforts.
The three Strategic Goals for the five-year period 2015–2020 were presented before the members: promoting deposit insurance system compliance with the Core Principles; advancing deposit insurance research and policy development.; and providing Members with technical support to modernize and upgrade their systems.
The SGFG representative attended 15th IADI Annual Conference with theme “Gearing Up for the Next Crisis” which featured presentations and panel discussions by top policymakers, deposit insurers and prominent academics to discuss, debate and provide insights into key issues affecting the financial stability and deposit insurance.
The Conference panel discussions focused on three key topics- firstly, how to encourage financial institutions to manage themselves in a safe and sound manner; secondly, building more effective crisis response mechanisms in cooperation with other financial safety net partners; and thirdly, the types of emerging funding frameworks that would help a Deposit Insurer to successfully deal with a crisis.
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