Explicit Deposit insurance is a measure introduced by policy makers in many countries to protect deposits, in full or in part, in the event of a "run" on a bank or banks. The failure of a bank has the potential to trigger a much broader spectrum of harmful events. Deposit insurance systems is one component of a financial system safety net that contributes to the promotion of financial stability. The purpose of deposit insurance varies from one country to another but in most cases they are designed to contribute to financial stability and to protect less financially sophisticated depositors. Deposit insurance institutions are for the most part government run or established, and may or may not be a part of a country's central bank, while some are private entities with government backing or completely private entities. An institution is a group, tenet, maxim, or organization created by a group of humans. ...

Many national deposit insurers are members of the International Association of Deposit Insurers (IADI), an international organization established to contribute to the stability of financial systems by promoting international cooperation and to encourage wide international contact among deposit insurers and othe interested parties, in particular, IADI.

The United States was the first country to establish an official deposit insurance scheme, during a Great Depression banking crisis in 1934. According to IADI, as of June 2006, there are currently 118 countries with a deposit insurance system in operation, pending, planned or under serious study (i.e. 95 in operation, 11 pending, 12 planned or under serious study). There are a number of countries with more than one deposit insurance system in operation (e.g. Austria, Canada, Germany, Italy and the United States). On the other hand, one deposit insurance system can cover more than one country (e.g. the Marshal Islands, Micronesia, and Puerto Rico are insured by the US Federal Deposit Insurance Corporation; and Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea and Gabon will be covered also by a single system). The Great Depression was a time of economic down turn, which started after the Stock Market Crash on October 29, 1929, also known as Black Tuesday. ...

Deposit insurance organisations

• Federal Deposit Insurance Corporation (FDIC) (USA)
• National Credit Union Administration (NCUA) (USA)
• American Share Insurance (ASI) (USA, Private)
• Canada Deposit Insurance Corporation (CDIC) (Canada)
• Deposit Insurance Agency (DIA) (Russia)
• Instituto para la Protección al Ahorro Bancario (IPAB) (Mexico)
• Philippine Deposit Insurance Corporation (PDIC) (Philippines)
• Bulgarian Deposit Insurance Fund (BDIF) (Bulgaria)
• Korea Deposit Insurance Corporation (KDIC) (Korea)
• Fonds de Garantie des Depôts (FDG) (France)

The FDIC logo The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass-Steagall Act of 1933. ... The National Credit Union Administration (NCUA) is the United States federal agency that charters and supervises federal credit unions and insures savings in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith... American Share Insurance (ASI) is a privately held deposit guaranty corporation that insures shares (deposits) in some state chartered credit unions. ... Canadian Deposit Insurance Corporation or CDIC is a federal agency that provides insurance (up to a $60,000 CAD per personal and on Canadian accounts only) on financial services provided by chartered Canadian banks and financial institutions. ... Deposit Insurance Agency (DIA) (Russian: ) is a not-for-profit corporation providing deposit insurance in the Russian Federation. ... Established in 1996, to protect depositors and maintain the stability of the financial system, the Korea Deposit Insurance Corporation (KDIC) is striving to achieve its mission to be “the world’s leading expert institution on ongoing risk surveillance & prompt resolution. ... Korea (Korean: 한국 or 조선, see below) is a geographic area, civilization, and former state situated on the Korean Peninsula in East Asia. ... The Fonds de Garantie des Depôts is a French deposit insurance fund. ...

Research and guidance papers on deposit insurance

• Research and Guidance Committee(2006), "General Guidance to Promote Effective Interrelationships among Financial Safety Net Participants", IADI, January 2006
• Research and Guidance Committee(2005), "General Guidance for the Resolution of Bank Failures", IADI, December 2005
• Research and Guidance Committee(2005), "General Guidance for Developing Differential Premium Sysyems", IADI, February 2005
• Asli Demirguc-Kunt, Baybars Karacaovali, Luc Laeven (2005), "Deposit Insurance Around the World: A Comprehensive Database", World Bank Policy Research Working Paper 3628, June 2005
• Working Group on Deposit Insurance (2001), "Guidance for Developing Effective Deposit Insurance Systems", Financial Stability Forum, September 2001
• Working Group on Deposit Insurance (2001), "Volume II: Guidance for Developing Effective Deposit Insurance Systems", Financial Stability Forum, September 2001

Logo of the World Bank The International Bank for Reconstruction and Development (IBRD, in Romance languages: BIRD), better known as the World Bank, is an international organization whose original mission was to finance the reconstruction of nations devastated by WWII. Now, its mission has expanded to fight poverty by means...

External links

International

• International Association of Deposit Insurers (IADI)

Africa

• Deposit Protection Fund Board(Kenya)
• Nigeria Deposit INsurance Corporation (NDIC)
• Deposit Protection Board (DPB)(Zimbabwe)

America

• Canada Deposit Insurance Corporation (CDIC)
• Federal Deposit Insurance Corporation (FDIC)
• Instituto para la Protección al Ahorro Bancario (IPAB)(Mexico)
• Fondo Garantidor de Créditos (FGC)(Brazil)
• Fondo de Seguro de Depósitos(Peru)
• Instituto de Garantía de Depósitos(IGD)(El Salvador)
• Jamaica Deposit Insurance Corporation (JDIC)
• Autorié de Marchés Financieras(Québec)
• Seguro de Depósitos Sociedad Anónima(SEDESA)(Argentina)
• Agencia de Garantía de Depósitos (AGD)(Ecuador)

Asia

• Korea Deposit Insurance Corporation (KDIC)
• Deposit Insurance Corporation of Japan (DICJ)
• Malaysia Deposit Insurance Corporation (MDIC)
• Philippine Deposit Insurance Corporation (PDIC)
• Deposit Insurance of Vietnam
• Hong Kong Deposit Protection Board
• Singapore Deposit Insurance Corporation (SDIC)
• Central Deposit Insurance Corporation (CDIC, Taiwan)

Europe

• Insättningsgarantinämnden - The Deposit Guarantee Board(Sweden)
• Bulgarian Deposit Insurance Fund (BDIF)
• Deposit Insurance Agency (DIA)(Russian Federation)
• Albanian Deposit Insurance Agency
• Deposit Insurance Fund(Czech Republic)
• Fonds de Garantie des Dépôts (FGD)(France)
• National Deposit Insurance Fund (NDIF)(Hungary)
• Savings Deposit Insurance Fund(Turkey)

Others

• Kazakhstan Deposit Insurance Fund (KDIF)
• Jordan Deposit Insurance Corporation (JDIC)