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Annual report of the Bank Guarantee Fund
2020
Collaboration with the IADI
In 2020, there were four meetings of the Executive Council (EXCO) of the International Association
of Deposit Insurers (including one of the EXCO-BIS) and accompanying meetings of standing
committees (including the Core Principles and Research Council Committee, CPRC), technical
committees, working groups and regional committees (including the Europe Regional Committee,
ERC). The meetings were attended by representatives of the BFG. The EXCO meetings elected,
among others, the chairs of the Standing and Regional Committees, approved the new composition
of the Standing Committees, ratified the appointment by acclamation of the new EXCO Vice Chair,
and welcomed new IADI members.
6
This time it was called EGM - the Extraordinary General Meeting - due to the fact that it was the first time in the history of the IADI that it was held remotely.
In October 2020, the 19th Annual General Meeting (AGM) of the IADI took place. The President of the BFG Board
of Directors was elected as a member of the IADI Executive Council. He was elected for a 3-year term of office, starting
as of 8 December, at the AGM, by postal ballot, on 9 November 2020. Moreover, the President of the Russian Depository
was elected IADI President and Chairman of the Executive Council for a 2-year term. The meetings were also accompanied
by committee meetings.
Due to the dissatisfaction of IADI members with the reforms carried out in the association so far, including the differentiation
and increase of the membership fees, the SPWG (Strategic Planning Working Group) was established together with
the Fee Options Subgroup by decision of the EXCO. The President of the Management Board of the BFG was elected
as a member of the SPWG, while the Director of the Management Office became a member of the Fee Options Subgroup.
The group and the subgroup are responsible for developing solutions to implement reforms in the association. The role
of the SPWG is to analyse and make recommendations in the main areas of the organisation’s activities by, among other
things, developing new strategic objectives for the IADI for the period 2022-2026 and analysing the existing functioning
of the organisation and the principles of financing the association. The role of the Sub-Group is to focus on analysing the
current manner of calculating the association’s annual fees. During the reporting period, a questionnaire was sent out
to all IADI members, asking them about their expectations and directions for further reforms. Further, a work schedule
was set and the next steps were determined. Among other things, several potential scenarios of proposed ways
of calculating membership fees were developed, a SWOT analysis of the association was conducted, and a matrix of the
association’s strategic goals for the next years and how to achieve them was prepared; numerous comments and remarks
were also collected. Further meetings of the SPWG and Fee Subgroup are scheduled for early 2021, as well as the official
submission of the report on works to the EXCO. During the reporting period, there was one meeting initiating the work
of both groups, and 3 virtual meetings each of the SPWG and Fee Subgroup; there were also virtual meetings of the
SPWG with willing EXCO members, where the progress of work was reported on an ongoing basis.
In 2020, the Europe Regional Committee (ERC) held three meetings. These meetings discussed, among other things, the
change in the way of calculating the IADI membership fees, the common position on the implementation of the review
of the changes made in the association so far and the manner of carrying out reforms in the IADI. The Fund was also
involved in IADI’s work within the Research and Guidance Technical Committee.
In the reporting period, the BFG staff participated in a webinar entitled Core Principle 15: payout time, process, and
information requirements organised by the LARC (Latin America Regional Committee IADI), discussing the basic principles
of effective deposit guarantee schemes in the context of the payout process.
An IADI survey on the Covid-19 pandemic was conducted in the spring of 2020. The chairs of the regional committees
reported on the situation in their respective regions. Forty-two participants took part in the survey. The survey revealed
that the financial sector had taken numerous measures to mitigate the adverse economic impact of the pandemic. Most
institutions also decided not to increase the amount of guaranteed funds. In addition, the disbursement of guaranteed
funds and the readiness to carry out the resolution process became a priority for DGSs.
Contents
Annual report of the Bank Guarantee Fund
2020
Collaboration with the IADI
In 2020, there were four meetings of the Executive Council (EXCO) of the International Association
of Deposit Insurers (including one of the EXCO-BIS) and accompanying meetings of standing
committees (including the Core Principles and Research Council Committee, CPRC), technical
committees, working groups and regional committees (including the Europe Regional Committee,
ERC). The meetings were attended by representatives of the BFG. The EXCO meetings elected,
among others, the chairs of the Standing and Regional Committees, approved the new composition
of the Standing Committees, ratified the appointment by acclamation of the new EXCO Vice Chair,
and welcomed new IADI members.
6
This time it was called EGM - the Extraordinary General Meeting - due to the fact that it was the first time in the history of the IADI that it was held remotely.
In October 2020, the 19th Annual General Meeting (AGM) of the IADI took place. The President of the BFG Board
of Directors was elected as a member of the IADI Executive Council. He was elected for a 3-year term of office, starting
as of 8 December, at the AGM, by postal ballot, on 9 November 2020. Moreover, the President of the Russian Depository
was elected IADI President and Chairman of the Executive Council for a 2-year term. The meetings were also accompanied
by committee meetings.
Due to the dissatisfaction of IADI members with the reforms carried out in the association so far, including the differentiation
and increase of the membership fees, the SPWG (Strategic Planning Working Group) was established together with
the Fee Options Subgroup by decision of the EXCO. The President of the Management Board of the BFG was elected
as a member of the SPWG, while the Director of the Management Office became a member of the Fee Options Subgroup.
The group and the subgroup are responsible for developing solutions to implement reforms in the association. The role
of the SPWG is to analyse and make recommendations in the main areas of the organisation’s activities by, among other
things, developing new strategic objectives for the IADI for the period 2022-2026 and analysing the existing functioning
of the organisation and the principles of financing the association. The role of the Sub-Group is to focus on analysing the
current manner of calculating the association’s annual fees. During the reporting period, a questionnaire was sent out
to all IADI members, asking them about their expectations and directions for further reforms. Further, a work schedule
was set and the next steps were determined. Among other things, several potential scenarios of proposed ways
of calculating membership fees were developed, a SWOT analysis of the association was conducted, and a matrix of the
association’s strategic goals for the next years and how to achieve them was prepared; numerous comments and remarks
were also collected. Further meetings of the SPWG and Fee Subgroup are scheduled for early 2021, as well as the official
submission of the report on works to the EXCO. During the reporting period, there was one meeting initiating the work
of both groups, and 3 virtual meetings each of the SPWG and Fee Subgroup; there were also virtual meetings of the
SPWG with willing EXCO members, where the progress of work was reported on an ongoing basis.
In 2020, the Europe Regional Committee (ERC) held three meetings. These meetings discussed, among other things, the
change in the way of calculating the IADI membership fees, the common position on the implementation of the review
of the changes made in the association so far and the manner of carrying out reforms in the IADI. The Fund was also
involved in IADI’s work within the Research and Guidance Technical Committee.
In the reporting period, the BFG staff participated in a webinar entitled Core Principle 15: payout time, process, and
information requirements organised by the LARC (Latin America Regional Committee IADI), discussing the basic principles
of effective deposit guarantee schemes in the context of the payout process.
An IADI survey on the Covid-19 pandemic was conducted in the spring of 2020. The chairs of the regional committees
reported on the situation in their respective regions. Forty-two participants took part in the survey. The survey revealed
that the financial sector had taken numerous measures to mitigate the adverse economic impact of the pandemic. Most
institutions also decided not to increase the amount of guaranteed funds. In addition, the disbursement of guaranteed
funds and the readiness to carry out the resolution process became a priority for DGSs.
Contents
