Volume II - PDF - International Association of Deposit Insurers

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•BACKGROUND DOCUMENTS• Part II: Outreach Closing Remarks Mr. Svein Andresen, head of the Secretariat of the Financial Stability Forum (FSF), assisted by Mr. Pierre Cailleteau, thanked the Chicago Fed for hosting the conference and described the FSF’s mandate and its activities in areas other than deposit insurance. The FSF began when the G7 finance ministers asked Mr. Hans Teitmeyer, early in 1999, to look into three areas where improvement to the international financial system was thought desirable: (1) identifying and containing incipient vulnerabilities, (2) setting international standards, and (3) coordinating supervisory activities and exchanges of information. Mr. Andresen reported that the FSF had 41 members, including regulators, central bankers and deputy finance ministers from 11 countries—the G7, Australia, Hong Kong, the Netherlands, and Singapore, together with representatives from the Bank for International Settlements, the Basel Committee for Banking Supervision, OECD, International Monetary Fund, World Bank, the International Organization of Securities Commissioners (IOSCO), and the International Association of Insurance Systems (IAIS). The Forum’s working groups had also included representatives from a large number of emerging market countries. However, the Forum had identified important gaps, including guidance on deposit insurance that the WGDI would fill. The Forum was currently also studying diminishing liquidity in the international financial markets, winding down large and complex institutions in multiple jurisdictions, and supervisory challenges posed by the development of “e-finance.” As with all issues taken up by the Forum, these topics emphasized the interface between micro and macro issues. Mr. Hunter thanked the presenters and the audience for participating in the conference and observed that the event had provided an excellent opportunity for the WGDI to exchange ideas with the academic community. He congratulated the Working Group on being willing to take on a challenging and complex subject. He personally agreed with much that had heard during the afternoon on, for example, the importance of prompt corrective action, the fact that deposit insurance was not a magic elixir, and the need to make the Group’s recommendations more concrete. In closing the conference he called on the participants to continue the research they had begun and the exchange of ideas that had characterized the day. Mr. Andresen noted that the FSF had met four times and had already issued reports on highly leveraged institutions, offshore activities, volatile capital flows, and implementing standards. He said that that there was a strategy to foster the implementation of standards and codes and that a large number of these standards and codes were already posted on the FSF’s web site. 4 172 Guidance for Developing Effective Deposit Insurance Systems: Volume II
•BACKGROUND DOCUMENTS• Part II: Outreach Annex I Conference Program Designing An Effective Deposit Insurance Structure: An International Perspective Sponsored by: Financial Stability Forum and Federal Reserve Bank of Chicago December 12, 2000 Federal Reserve Bank of Chicago 230 South LaSalle Chicago, Illinois 12:45 p.m. Registration 1:15 p.m. Welcoming Remarks Michael H. Moskow, President, Federal Reserve Bank of Chicago William C. Hunter, Senior Vice President and Director of Research, Federal Reserve Bank of Chicago 1:30 p.m. Keynote Speaker J.P. Sabourin, President and Chief Executive Officer, Canada Deposit Insurance Corporation, and Chairman, Financial Stability Forum, Working Group on Deposit Insurance 1:50 p.m. Panel I: Deposit Insurance Objectives and Infrastructure Requirements Chair: Douglas D. Evanoff, Vice President and Senior Financial Economist, Federal Reserve Bank of Chicago Public Policy Objectives for Deposit Insurance Schemes Guy Saint-Pierre, Senior Vice President, Canada Deposit Insurance Corporation Ensuring a Country’s Readiness for Deposit Insurance Jose Carlos Jaime, Chairman, Seguro de Depositos Sociedad, Argentina Discussants: Randall S. Kroszner, University of Chicago, Gordon S. Roberts, York University, Canada, Carl Tannenbaum, First Vice President, ABN AMRO 3:15 p.m. Coffee Break 3:30 p.m. Panel II: Issues in Implementing Deposit Insurance Systems Chair: John Raymond LaBrosse, Director, International Affairs, Canada Deposit Insurance Corporation 173 Guidance for Developing Effective Deposit Insurance Systems: Volume II
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