From June 25 to 28, 2019, the Deposit Insurance of Vietnam (DIV) delegation led by Mr. Dao Quoc Tinh, General Director attended the 17th Annual Meeting of the Asia-Pacific Regional Committee (APRC), the Technical Assistance Workshop and the International Conference in St. Petersburg, the Russian Federation.
At the Annual Meeting, as a member of the APRC, the DIV made a contribution to approving the APRC documents; updated the APRC's activities since the 16th APRC Annual Meeting hosted by the DIV in 2018; updated activities of the International Association of Deposit Insurers (IADI), especially its strategic goals; approved the host of the 18th APRC Annual Meeting in 2020, which is the Perbadanan Insurans Deposit Malaysia (PIDM).
Besides, the DIV delegation participated in the Technical Assistance Workshop entitled “Deposit Insurance: How to Ensure Compliance with IADI Core Principles 2 and 8”. The workshop focused on principles 2 and 8 of the IADI's Core Principles for Effective Deposit Insurance Systems, which are “Mandates and Powers” and “Coverage” respectively.
The delegation also attended the International Conference with the theme of "Deposit Insurance and Bank Liquidation: Standards, Best Practices and Innovations ". Three sessions including “Deposit Insurance: How to Ensure 7-day Payout”, “Bank Liquidation by Deposit Insurers: Benefits and Challenges”, and “Recoveries from Assets of Failed Banks: How to Liquidate Such Assets” were discussed at the conference.
Moreover, the DIV and the State Corporation Deposit Insurance Agency in the Russian Federation (DIA) had a bilateral meeting in which the DIA exchanged and shared its experiences on resolution of weak credit institutions and reimbursement. The two sides also reached an agreement on the cooperation plan in the future. At the meeting, the two organizations signed a Memorandum of Understanding in order to improve operations of both deposit insurance systems and contribute to the overall development of the APRC as well as the IADI. In addition, the DIV also had working sessions and discussions on cooperation plans with some deposit insurance organizations participating in the conference.