Core principles for Effective Deposit Insurance Systems

   In 2009, the Basel Committee on Banking Supervision (BCBS) and the International Association of Deposit Insurers (IADI) published Core Principles for Effective Deposit Insurance Systems, setting an important benchmark for jurisdictions to use in establishing or reforming deposit insurance systems.The principles serve as an important benchmark for jurisdiction seeking to establish or reform their deposit insurance system. The Core Principles are designed to be adaptable to a wide range of jurisdiction circumstances taking into account of financial safety net arrangements. They address a comprehensive set of issues including coverage, funding, powers, membership, the transition from blanket to limited coverage and prompt reimbursement.  http://www.iadi.org/en/core-principles-and-research/core-principles/.

European Directive on Deposit Insurance Schemes

  The provisions of European Directive on Deposite Insurance Schemes are mandatory for all deposit insurance system within the EU member states.

  The Directive is a key instrument in promoting stability of the banking system and protecting depositors by enhancing  the effectiveness of deposit insurance schemes. http://www.efdi.eu/publications

  With the goal of improving the effectiveness of Armenian deposit guarantee scheme, the Fund adheres to the criteria and provisions outlined in the “Core Principles for Effective Deposit Insurance Schemes” and the “European Directive on    Deposit Insurance Schemes”, while taking into account specific characteristics and circustances of the country.