May 27, 2022
Press Release
The Deposit Guarantee Fund (hereinafter – the DGF) is now represented on the Board of the European Forum of Deposit Insurers (hereinafter – the EFDI). On May 26, at the EFDI Annual General Meeting, Svitlana Rekrut, DGF Managing Director, was elected to the EFDI Board as a representative of deposit insurers of non-EU countries.
‘The exact same way that the European principles and practices are important for the Ukrainian deposit guarantee system, the unique Ukrainian experience will be useful for the European deposit insurers’ community. We have been working in unprecedented circumstances for the last three months. In times of war, when Ukrainian soldiers are defending our land from the Russian invasion, we have not stopped fulfilling our obligations to depositors. What is more, the implementation of European standards in terms of deposit guarantee system is one of the goals the DGF will continue heading to despite everything. I am convinced that the DGF membership in the EFDI Board will prove once again that in unity there is strength!’ – Svitlana Rekrut noted.
The annual international conference ‘New Challenges and Disruptions in the Financial Safety-Net’ was also held within the framework of the EFDI Annual General Meeting. The topics discussed at the conference included:
- Digitalization (digital currencies of central banks, the future of cryptocurrencies);
- Cyber risks and data protection;
- Financial innovations;
- The challenges of the climate change for the activities of banks and deposit guarantee systems;
- New EU legislation on crisis management and deposit insurance.
Recall that on March 16, 2022, the EFDI Board adopted the resolution to suspend the membership of the Deposit Insurance Agency (DIA) of Russia with immediate effect and expelled a Russian representative from the Board.
The EFDI is a professional association of deposit insurers and representatives of investor compensation schemes, which currently has 68 participants from 49 European countries, including non-EU countries.
The supreme body of the EFDI is the general meeting of members electing the Board.