Deposit insurance
From Wikipedia, the free encyclopedia
Deposit insurance is a measure taken by banks in many countries to protect their clients' savings, either fully or in part, against any possible situation that would prevent the bank from returning said savings. 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.
Many national deposit insurance agencies are members of the International Association of Deposit Insurers (IADI), an international organization established to promote deposit insurance, help countries without deposit insurance to establish their own agencies, and promote the exchange of knowledge and experiences between deposit insurers of different countries.
The United States was the first country to establish an official deposit insurance scheme, during a great Depression banking crisis in 1934. By 2003, 88 countries had such schemes.
[edit] Deposit insurance agencies
- Federal Deposit Insurance Corporation (FDIC) (USA)
- National Credit Union Administration (NCUA) (USA)
- American Share Insurance (ASI) (USA, Private)
- Canada Deposit Insurance Corporation (CDIC) (Canada)
- Instituto de Protección al Ahorro Bancario (IPAB) (Mexico)
- Philippine Deposit Insurance Corporation (PDIC) (Philippines)
- Bulgarian Deposit Insurance Fund (BDIF) (Bulgaria)
[edit] External links
- CDIC
- FDIC
- IADI
- Insättningsgarantinämnden - The Deposit Guarantee Board (Sweden)
- IPAB
- BDIF
- 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