We cooperate with deposit guarantee schemes in other countries where Norwegian banks have branches, and where foreign banks have branches in Norway.
Article 14 of the EU Deposit Guarantee Directive is an important part of this cooperation. The article states that deposit guarantee schemes in the EU/EEA must cooperate if a bank has a branch in another country. Then the deposit guarantee scheme in the country in which the branch is located must be paid out on behalf of the deposit guarantee scheme in the home country of the bank.
European Forum of Deposit Insurers (EFDI)
The Norwegian Banks' Guarantee Fund is a member of EFDI and participated in several of EFDI's working groups.
EFDI's purpose is to contribute to financial stability in Europe by facilitating cooperation between the deposit guarantee schemes in the countries. The forum has members from most European countries.
In 2020, EFDI published a plan for sustainable deposit guarantee schemes. The Norwegian Banks' Guarantee Fund supports the work and has signed the plan. For more information, see EFDI Sustainability Charter.
International Association of Deposit Insurers (IADI)
The Norwegian Banks' Guarantee Fund is a member of IADI and participated in several of IADI's working groups.
IADI works globally to increase the effectiveness of deposit guarantee schemes by guiding and facilitating international cooperation. The organization has members from a number of countries around the world.
IADI has, together with the Basel Committee, issued principles for effective deposit guarantee schemes. For more information, see iadi.org.
The European Banking Authority (EBA)
The European Banking Authority (EBA) prepares, among other things, guidelines for the directive and regulations for the deposit guarantee scheme.
The purpose of the guidelines is to ensure a harmonized application of the regulations at European level. For more information, see eba.europa.eu/