International Relations
The Czech Republic acceded to the European Union on 1 May 2004. Since that day, the terms of deposit insurance have been based on the requirements of the laws of the European Communities.
Within the framework of European Union membership, the Fund participates in the Working Group of the Banking Advisory Committee for Deposit Guarantee Schemes, in order to revise Directive 94/19 EC, on Deposit Guarantee Schemes.
The Fund is a member of two international organisations:
- European Forum of Deposit Insurers
(European Forum of Deposit Insurers - EFDI) – www.efdi.net
- International Association of Deposit Insurers
(International Association of Deposit Insurers - IADI) - www.iadi.org
The IADI is a non-profit organisation established in May 2002 under the laws of Switzerland. It is based at the Bank for International Payments in Basel, Switzerland. The establishment of the IADI followed up on the activities of the working groups set up by the Financial Stability Forum in association with the World Bank (1999-2001). Presently, the IADI has 62 members. The Deposit Insurance Fund was one of the 25 founding members. The IADI is managed by a 25-member Executive Council with the President as its chair. The President of the Board of Directors of DIF, Josef Tauber, is a member of the Executive Council.
