Page 3 - Strategic Plan 4th Six-Month Report

1986 to 2011, and subsequently conducting a
comparative review of two deposit insurance models to
determine an appropriate model for the DIC.

Based on the above review and assessment, in April
2020 a decision was taken by the Board to adopt a loss
minimiser model. This model, when implemented,
would offer enhanced flexibility to overcome existing
challenges and provides for more effective contribution
towards financial crisis management at the national
level.

Strategic Initiative No. 2 - Review Legislation,
identify gaps and develop an Action Plan. This
project triggered a review of the DIC’s governing
legislation, with a view to identifying gaps that
hindered compliance with the IADI Core Principles and
constrained the powers of the DIC. The outcome of
this review resulted in the development of a handbook
which provides guidance for implementing resolution
processes and supports the DIC’s preparedness for
crisis management. The review also served to identify
the necessary amendments to existing legislation and
requirements for new legislation, and in the coming
months a Policy Paper will be developed as part of the
groundwork for the creation of such legislation.

The above successes brought the Plan much closer to
completion, with just two (2) of the eight (8) Strategic
Initiatives still in progress.