EFDI EU Committee Meeting in Amsterdam on 24 and 25 October
On Thursday 24 and Friday 25 October, the EU Committee meeting was held in Amsterdam under the kind hospitality of the DNB colleagues, with an extensive two-day agenda including the presentation of the reports of the EFDI Working Groups: Cross Border Working Group (CBWG), Banking Union Working Group (BUWG) and DGSD 3 Working Group (D3I).
We were delighted to meet on the first day in the "Tiger Hall" of the Artis Royal Zoo Natura Artis Magistra with the impressive painting by Charles Verlat.
Agenda of the first day started with a report and presentation made by CBWG Co-leaders Ms. Ivy Jeuken (DNB) and Mr. Borja Peletero (FGD). CBWG co-leaders also gave an Update on the Review of EFDI Multilateral Agreement which entailed lively discussion. CBWG Co-Leaders invited colleagues which have proposals for the review to submit them to the CBWG Co-Leaders by November 4, 2024 for the purpose of discussions on the ongoing review of EFDI Cooperation Agreement at the next CBWG which is yet to be confirmed.
Session continued with a BUWG Co-Leaders Olav Scholten (DNB) & Marcello Bredice (FGDCC), who gave insight and update on the EU Bank Crisis Management and Deposit Insurance Framework (CMD) review proposal, action and steps taken by the EFDI. The CMDI update of the 3 different versions (European Commission, European Council and European Parliament) where presented and discussed also in relation to EFDI’s position paper on CMDI.
Following the coffee break, the D3I WG Co-Leaders Ms. Renata Kadlecova (GSFT) and Mr. Peter Nagy (NDIF) reported on the DGSD 3 activities. This session continued with an update of EFDI Secretariat where Secretary General Mr. Carlos Colao talking about EFDI digital communication, EFDI web page and easy access and information exchange with the membership. He emphasized increased social media activities and EFDI visibility which is one of the EFDI goals to strengthen the role of its communication means.
Second working day was held in the premises of the DNB and started with a very important update about the next in person event to be hosted on 20 November in Brussels focus on the pivotal role of national Deposit Guarantee Schemes in addressing banking crises, where we will welcome Mr. Andrea Beltramello, Head of Unit for Resolution and Crisis Management at DG FISMA, as our special guest.
It continued then with the presentation of the Investor Compensation Scheme Working Group (ICSWG) report on Paper 1 ICS regulatory framework by the WG Leader Mr. Alan de Lacey (ICCL) and followed with the presentation of results from the Survey on cooperation with other financial safety net players. Results were jointly communicated by Andras Komar (NDIF), Tanja Blankenburg (BDB), Renata Kadlecova (GSFT) and Prof. Dalvinder Singh which entailed quite a lively discussion and gave interesting views.
The EU Committee ended with the presentation made by Mr. Loucas Arminiotis (Central Bank of Cyprus) on the EFDI Position Paper on Coverage of Client Funds that was approved by the EU Committee. The objective of this paper is to analyse the current approach of DGSs with regard to the coverage of client funds and beneficiary accounts and outline the EFDI members’ response to the CMDI proposal. The paper was approved by th EU Committee and is ready for publication.
The afternoon part was devoted to a Workshop on transfer of contributions regulated by the art.14.3.DGSD that showed experience and cases with insights from the Netherlands, Sweden, Spain, Belgium, and Finland followed by fruitful discussions on this matter.
EFDI and De Nederlandsche Bank would like to express their appreciation to all the leaders of the CBWG, BUWG and D3I and all the speakers and attendees, both in person and remotely that attended this event.
Additionally, EFDI would like to thank again De Nederlandsche Bank and in particular Ms. Ivy Jeuken and Mr. Olav Scholten and all DNB supporting team, for hosting this excellent and insightful event
For any additional information, please contact [email protected]