In order for EFDI to fulfil its objectives, it has created several standing committees and working groups.
The most important working body is the EU Committee, which comprises representatives from all EU Member States.The EU Committee deals with the policy of EFDI concerning the legislation of the European Union on deposit insurance, the submission of any responses or statements of policy to the European Commission (or any institution of or related to the European Union), the reporting of any discussion of the members regarding the policy of EFDI to the European Commission (or any other institution of or related to the European Union). Moreover, the EU Committee is to represent EFDI’s interests regarding the legislation of the European Union on deposit guarantee schemes and investor compensation schemes vis-à-vis the European Institutions.
The EFDI EU Committee is presided over by the EFDI Chairman (Dirk Cupei) (according to Art. 31 EFDI Statutes). The EFDI Board nominated Alex Kuczynski (FSCS, UK) as EU Committee Coordinator.
PR & Communication Committee
The PR & Communication Committee comprises PR Experts from all EFDI Member Institutions. It deals with all PR-related issues concerning deposit protection and investor compensation. Its main purposes are the exchange of experience related to crisis-communication as well as dealing with the enhancement of public awareness about DGS in the EFDI member-countries.
The EFDI Board nominated Istvan Toth (NDIF, Hungary) as chair of the PR Committee.
Research Working Group
The Research Working Group’s objective is to research specific issues related to deposit insurance with the aim to develop guidance and recommendations for regulatory authorities and stakeholders. It furthermore assists other working bodies in the fulfillment of their respective tasks by providing data, reports, surveys, etc.
The Research Working Group has established several sub-working groups to deal with specific topics. Currently, there are three sub-working groups dedicated to the issues of risk-based premium systems, stress tests, and databases.
The EFDI Board nominated Riccardo de Lisa (FITD, Italy) as chair of the Working Group.
Investor Compensation Scheme (ICS) Working Group
The ICS WWoriking Group is composed of 34 institutions, 10 of which are Investors Compensation Schemes only, and the remaining 24 are both Deposit Guarantee Schemes and Investor Compensation Schemes.
The ICS WG deals with the policy of EFDI concerning the EU legislation on investor compensation schemes. In particular, the group has been following the ICS Directive (97/9/EC –link) legislative process organizing meetings, exchanging views and requesting clarification from EU Parliament and Commission representatives. The Subgroup also follows EU Commission work and pursues broader international cooperation.
The EFDI Board nominated Karen Gibbons (FSCS, UK) as chair of the Working Group.
Crisis Resolution Working Group
The Crisis Resolution WG analyzes and provides recommendations on bank recovery and resolution issues / plans to the EFDI Board so that EFDI is able to respond and act on European and International initiatives in this matter. Of particular relevance to EFDI members, is the link between DGS and Resolution Funds.
Banking Union Working Group
The Banking Union Working Group was set up in 2015 in response to the efforts at EU level to create a Banking Union. Within the framework of the group, the new regulation related to the Banking Union will be researched and assessed for its impacts on DGS.
Currently, there are three sub-working groups dedicated to the issues of application of new financial regulatory rules in the EU, the role of deposit insurance in bank crisis management, the issue of state aid in relation to interventions by deposit insurance schemes, and the development towards a European Deposit Insurance Scheme.
The EFDI Board nominated Prof. Salvatore Maccarone (FITD, Italy) as chair of the Working Group.