International Association of Deposit Insurers to locate new secretariat in Basel

8 May 2002

Press release

At its constituent meeting in Basel the International Association of Deposit Insurers (IADI) decided to establish a permanent secretariat at the Bank for International Settlements (BIS) in Basel, Switzerland. The IADI will remain fully independent of the BIS.

The BIS strongly supports the IADI, formed to contribute to the stability of financial systems by promoting international cooperation in the field of deposit insurance, and is pleased to provide a forum in which such cooperation can develop.

Further information on the IADI can be obtained from their website ( www.iadi.org) or from John Raymond LaBrosse, Secretary General, Tel. +1 (613) 947-0270, email: ray.labrosse@iadi.org.