International cooperation
As financial institutions become larger and more complex, it is important that regulators and resolution authorities like us stay ahead of the curve.
The Canada Deposit Insurance Corporation (CDIC) is a founding member of the International Association of Deposit insurers (IADI). IADI is the global standard-setter for deposit insurance systems and the main forum where deposit insurers from around the world meet to share knowledge and expertise. We helped develop IADI’s Core Principles for Effective Deposit Insurance Systems in 2009.
We are a lead advisor with the Financial Stability Board (FSB) and the Bank for International Settlements (BIS). We sit on the FSB Resolution Steering Group. We are members of the FSB Cross-border Crisis Management Group.
Through these and other partnerships, we work with regulators and resolution authorities to prepare for resolving cross-border bank failures. We also learn about developments in other deposit insurance systems that can affect our member institutions and our financial system. This includes learning about:
- New depositor payout processes
- Variances in international law and insolvency regimes
- New deposit and investments products
- Developments in e-money, e-commerce and international clearing and settlements
We have built a strong reputation and receive many requests for participation in international conferences, seminars and workshops. We also help other countries establishing or updating their deposit insurance systems.