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International Work
Overview of CDIC’s International
Activities
The global financial industry is changing
rapidly. Financial institutions are becoming larger and much more complex—forming conglomerates that span
many countries and giving rise to cross-border implications that affect Canada’s financial sector. As the
globalization of the financial services continues, CDIC must understand the changes that are occurring and
how these affect our member institutions and the provision of deposit insurance.
CDIC participates in a number of international
activities relating to deposit insurance. The Corporation receives many requests for participation in
international conferences, seminars and workshops and requests for assistance by countries establishing or
updating deposit insurance systems. CDIC’s assistance aligns with the federal government's policy of
promoting international financial system stability and cooperation in financial institution regulation. The
Corporation also benefits by learning about developments in other deposit insurance systems and emerging
global issues which can affect our member institutions. Some of these issues include:
- globalization and its impact on the financial
services sector
- the effect of multiple regulators/supervisors
dealing with a global financial institution
- variances in international law and insolvency
regimes
- new deposit and investments products
- developments in e-money, e-commerce and
international clearing and settlements
In addition to providing direct assistance to
countries, CDIC participates in the development of international guidance for deposit insurance systems. This
is being done through organizations such as the International Association of Deposit Insurers (IADI), the
Financial Stability Forum (FSF) and the International Monetary Fund (IMF). As an example, CDIC is currently
leading the development of international good practices in the governance of deposit insurance systems and is
working with Korea and the United States in developing research and guidance on funding and claims and asset
recovery techniques used by deposit insurers.
Learn more about CDIC’s international work,
including our survey on international deposit insurance
practices and access international links to other deposit insurance organizations around the
world. Visit our general links page to connect with other international organizations and
events.
You can also click on any of the following for
more detailed information about CDIC’s international work:
Questions or comments about our international
work? Contact us at: international@cdic.ca
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