European Forum of Deposit Insurers

Short facts about EFDI
European Forum of Deposit Insurers
Legal status: International Non-profit association under Belgian law (AISBL)
Founded: 2002 (and as Belgian INPA in 2007)
Place of incorporation: Brussels, Belgium
Chairman: Roberto Moretti
Vice Chairman: Dirk Cupei
Honorary Chair person: Suzanne McCarthy
Members: 68 Deposit Guarantee Schemes and Investor Compensation Schemes from 44 countries
Website: www.efdi.eu
About EFDI
The European Forum of Deposit Insurers (EFDI) was first established in 2002 supported by the European Commission. There were 25 Founder Members who together decided to establish a common platform for the mutual exchange of information. In June 2007, EFDI adopted the legal status of an International Non-profit Association under Belgian law (INPA - AISBL). Its registered office is in Brussels (B-1000 Brussels, 10 Rue Montoyer, Belgium). The offices of the EFDI-Chairmen and the EFDI secretariat are located at Via del Plebiscito, 102, 00186 Rome (Italy). EFDI’s membership currently stands at 68 Member-Institutions (57 DGS) and Associates (11 ICS) from a total of 44 countries from the Member States of the Council of Europe (Art. 6 EFDI Statutes). EFDI has a close working relationship with major European and International organizations and academia, especially with the European Commission (EC), the European Central Bank (ECB), the European Banking Authority (EBA), the World Bank (WB), the International Monetary Fund (IMF), the European Financial Services Roundtable (EFSR), the European Banking Federation (EBF) and the International Association of Deposit Insurers (IADI).
Purpose of EFDI
EFDI’s main purpose is to contribute to the stability of financial systems by promoting European and International co-operation in the fields of deposit insurance, crisis resolution, and investor compensation, and facilitating discussion and exchange of expertise and information on issues of common interest. EFDI is also committed to discussing regulatory and other topics of mutual interest and exploring cross-border issues, including better co-operation between European countries and liaising with non-European DGSs. It also focuses on examining and developing the practical implementation of the EU Directive on Deposit Guarantee Schemes.
EFDI does not make binding pronouncements on behalf of its members. EFDI may express the opinion of its members, or of the members of a sub-group, subject to agreement by those members. Statements by EFDI, or its activities, are without any prejudice to the sovereignty of its members.
EU-Committee
EFDI has established an EU Committee comprising all its members from the EU-member-states. The EU Committee deals with the policy of EFDI concerning the legislation of the European Union on deposit insurance, the submission of any responses or statements of policy to the European Commission (or any institution of or related to the European Union), the reporting of any discussion of the members regarding the policy of EFDI to the European Commission (or any other institution of or related to the European Union) and with the representation of EFDI vis-à-vis the European Commission (or any other institution of or related to the European Union) with respect to the policy of EFDI.
The EFDI EU Committee is presided over by the EFDI Chairman (Roberto Moretti) (according to Art. 31 EFDI Statutes). The EFDI Board nominated Alex Kuczynski as EU Committee Coordinator.
PR-Committee
EFDI has also established a PR-Committee comprising the PR-experts from all EFDI-members. The PR-Committee deals with all PR-related issues concerning deposit protection and investor compensation. Its main purposes are the exchange of experience related to crisis-communication as well as dealing with the enhancement of public awareness about DGS in the EFDI member-countries.
The EFDI Board nominated Stephan Rabe as Press-Spokesman for EFDI. In this function, he also chairs the PR Committee.
Investor Compensation Scheme Working-Group (ICS WG)
The ICS WG is composed of 35 institutions, 11 of which are Associates (i.e. Investors Compensation Schemes only), and the remaining 24 are both Deposit Guarantee Schemes and Investor Compensation Schemes.
The ICS WG deals with the policy of EFDI concerning the EU legislation on investor compensation schemes. In particular, the group has been following the ICS Directive (97/9/EC -link) legislative process organizing meetings, exchanging views and requesting clarification from EU Parliament and Commission representatives. The Subgroup also follows EU Commission work and pursues broader international cooperation.
Crisis Resolution Working-Group
The Crisis Resolution WG analyzes and provides recommendations on bank recovery and resolution issues / plans to the EFDI Board so that EFDI is able to respond and act on European and International initiatives in this matter. Of particular relevance to EFDI members, is the link between DGS and Resolution Funds.

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