CDIC Executive Vice President (EVP) Yvonne Fan participated in the International Association of Deposit Insurers (IADI) High-Level Steering Group (HLSG) meeting in Washington D.C., USA in early July 2024. 

The HLSG was established to provide strategic direction and oversee the drafting of the proposed revisions to the Core Principles. The proposed revised areas of priority include coverage, reimbursement, resolution, and financial safety net coordination. Specific topics of discussions encompass scenarios of differentiated coverage, the relevance of differential premium systems, and the role of the least or less cost test and systemic exemptions in determining the allowable use of deposit insurer funds. The HLSG aims to initiate a public consultation on the updated Core Principles by the end of 2024. In this July meeting in Washington D.C., USA, CDIC EVP Fan, as a member of the HLSG, exchanged her views on the revised Core Principles framework and definitions of certain critical elements. Further discussions and member comments will continue in the following months. 

IADI domiciled at the Bank for International Settlements in Basel, Switzerland was established in May 2002. Currently it has 126 members, including 98 Members, 11 Associates and 17 Partners. Since 2002, CDIC has been actively participating in IADI activities as a founding member of the Association, promoting important IADI activities and joining the decision-making process as a member of the EXCO since 2003, which is responsible for IADI's major policies.

Group Photo of IADI High-Level Steering Group Meeting in Washington D.C., USA—
CDIC Executive Vice President Ms. Yvonne Fan (front row, second from the right) and HLSG members