Bilateral cooperation with deposit guarantee systems in other EU and EEA countries is particularly important when a Finnish bank has established branches in these countries or vice versa. The branch cooperation framework is defined in the Deposit Guarantee Systems Directive (DGSD) and the accompanying multilateral transaction agreement. The financial stability authority is a party to the agreement. According to the DGSD, a branch`s host country deposit guarantee fund is responsible for compensation to the branch`s depositors on behalf of the bank`s country of origin deposit guarantee fund. The European Deposit Insurers Forum (EFDI) was established in 2002. Its aim is to promote active European cooperation in deposit guarantee schemes and investor compensation schemes. It is a unique place where members and partners share their experiences as practitioners. They work together to analyse European and national rules. The association thus facilitates the exchange of expertise and information between the guarantee systems and the institutions responsible.
The association`s strategic priorities are to ensure the global dissemination of the fundamental principles of deposit guarantee, to make appropriate technical cooperation and expertise available to legal systems that declare it appropriate technical cooperation and expertise, and to develop detailed studies and analyses on the practice and impact of deposit guarantees on financial stability. The European Banking Authority (EBA) has set up a task force on deposit guarantee systems (TFDGS) and thematic sub-groups as part of the resolution committee. The objectives of international cooperation include a reassessment of the Deposit Guarantee Systems Directive and a peer-review of stress tests for EU deposit guarantee schemes. The Authority is actively involved in these efforts and thus strengthens its expertise in deposit guarantees. The European Deposit Insurers Forum (EFDI) and the International Association of Deposit Insurers (IADI) are actively working to improve efficiency and cooperation between deposit guarantee systems and to promote the exchange of information, experience and skills. On 28 November 2016, the Bank Guarantee Fund (BGF) signed the multilateral cooperation agreement between deposit guarantee schemes between deposit guarantee schemes, article 14, paragraph 5 of the 2014/49/EU Directive of 16 April 2014 on deposit guarantee schemes (The aim of this agreement is to facilitate effective cooperation between deposit guarantee companies and, where appropriate, the authorities designated in the EU. In particular, different aspects of the repayment of depositors in branches, the transfer of deposit guarantee contributions and the granting of reciprocal loans between deposit guarantee companies are defined, which would otherwise have to be agreed very quickly in a time of crisis that would divert attention and resources from deposit guarantee schemes from other difficult decisions. The Finnish Financial Stability Authority is the Finnish National Deposit Guarantee Authority, which is responsible for all obligations related to the maintenance of the deposit guarantee system. The Financial Stability Authority cooperates with other deposit guarantee bodies in EU and EEA countries, both bilaterally and through international cooperation organisations.
The International Association of Deposit i Insurers (IADI) is the leading international deposit guarantee organization. IADI was established in 2002 with the aim of increasing the efficiency of deposit guarantees worldwide by developing guidelines and encouraging international cooperation among deposit insurers. IADI was created as a result of the work of several multinational working groups (1999/2001) which were mandated by the Financial Stability Forum (now financial stability board) to study the development of fundamental international principles for deposit guarantee schemes.