IADI’s 14th IADI Annual General Meeting (AGM) and Conference, along with the Association’s 46th Executive Council (EXCO) Meeting were held on 25- 30 October 2015 in Kuala Lumpur (Malaysia). The meetings, jointly organized by IADI and Perbadanan Insurans Deposit Malaysia were presided over by Mr. Jerzy Pruski, then IADI President and Chair of the Executive Council of the Association.
The main discussions of the 46th Executive Council focused on implementation of the new strategic goals of the Association by, inter alia, strengthening the role of the IADI Secretariat and enhancing the research activities of the Association. Additionally, the IADI AGM and Annual Conference were accompanied by a number of IADI Committees, Sub-committees as well as IADI Working Group meetings, with Bank Guarantee Fund Deputy President chairing the meeting of the Subcommittee on Bail-in Implications for Deposit Insurance and Funding.
The accompanying Annual Conference was entitled "Crisis Preparedness – Institutional Arrangements and Coordination, Crisis Communication and Contingency Planning". Mr. Pruski, in his opening remarks, spoke on the changes deposit guarantee systems have undergone in recent years, comparing the current situation with that prior to the recent crisis. In his conclusion, Mr. Pruski pointed out that deposit insurance agencies have strengthened not only in the scope of fulfillment of their basic functions, but also that their role in the financial safety-net has been reinforced, and that the current trend indicates further expansion of their mandates. Mr. Pruski also noted that IADI is part of this trend, strengthening its position as a standard-setting body in the field of financial stability.
On 29 October 2015, at the Annual General Meeting of the Association, Mr. Pruski concluded his three-year term as President of IADI and Chair of its Executive Council and now continues his service as an Executive Council Member. Mr. Pruski was the first European Chair of IADI. During his three-year tenure, the Core Principles for Effective Deposit Insurance Systems were revised and updated, and are now included in the Financial Stability Board’s (FSB) Compendium of 12 Key Standards for Sound Financial Systems. IADI also entered into a collaborative relationship with the International Monetary Fund (IMF) and World Bank (WB) to use the Core Principles in Financial Sector Assessment Program (FSAP) reviews. Finally, a fundamental strategic and structural review of the Association was carried out and the first phase of its implementation has commenced.
Mr. Thomas Hoenig, Vice Chairman of the Board of Directors of the American Federal Deposit Insurance Corporation (FDIC), the oldest deposit guarantee institution in the world, was confirmed as the new IADI President and the Chair of the Executive Council of the Association. Mr. Pruski has been once again appointed as an EXCO Member. Ms. Maria Ines Agudelo Valencia from the Colombian Deposit Guarantee Institution (Fondo de Garantías de Instituciones Financieras – FOGAFIN) has been elected as the new Vice-Chair of the EXCO.
Mr. Jerzy Pruski’s speech at the conference "Crisis Preparedness – Institutional Arrangements and Coordination, Crisis Communication and Contingency Planning" can be downloaded here:
