Consultation document launched on insuring bank deposits
The Basel Committee on Banking Supervision and the International Association of Deposit Insurers (IADI) are seeking views on how deposit insurance would work after the recent banking crisis
Issues covered include:
- Deposit insurance coverage
- Funding
- Prompt reimbursement
- Public awareness
- Resolution of failed institutions
- Cooperation with other safety net participants including central banks and supervisors.
Martin Gruenberg, Chairman of IADI and member of the Basel Committee, said: "The core principles are the product of a cooperative effort between the Basel Committee and IADI to respond to one of the lessons of the financial crisis: the need for effective systems of deposit insurance to help maintain public confidence. They set an important benchmark for countries to use in establishing or reforming deposit insurance systems."
