Basel Committee and IADI: Core Principles for Effective Deposit Insurance Systems
22 June 2009
The 18 Core Principles are a voluntary framework for effective deposit insurance practices. National authorities are free to put in place supplementary measures that they deem necessary.
The BIS and the International Association of Deposit Insurers (IADI) issued the Core Principles for Effective Deposit Insurance Systems.
The 18 Core Principles are intended as a voluntary framework for effective deposit insurance practices; national authorities are free to put in place supplementary measures that they deem necessary to achieve effective deposit insurance in their jurisdictions.
These core principles set a benchmark for countries to use in establishing or reforming deposit insurance systems and address a range of issues including:
- deposit insurance coverage;
- funding;
- prompt reimbursement;
- public awareness;
- resolution of failed institutions; and
- cooperation with other safety net participants including central banks and supervisors.
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