Page 4 - Strategic Plan 4th Six-Month Report

Highlights of our Main Achievements
The main highlights of the Plan and achievements of the DIC
are summarised below:

Aligning its presence with international standards for deposit
insurers
The DIC has now identified the most suitable deposit insurance
model and has outlined the key legislative changes necessary
for the implementation of the new model. Legislative
amendments have also been outlined that would serve to close
the gaps in existing legislation that hindered compliance with
the IADI Core Principles and restricted the powers of the DIC.

A self-assessment on compliance with IADI’s Core Principles
was completed in March 2019. A Peer Assessment conducted
in August 2019 by a review team from Switzerland, United
Kingdom and the United States cemented the areas on which
the DIC must focus. Forty-two (42) action items were
identified for completion and the DIC is well on the way to
completing these action items, with 76% addressed to date.

Engagement of Stakeholders
The DIC collaborated with fellow agencies in the sector - the
Central Bank, the Ministry of Finance, and the Trinidad and
Tobago Securities and Exchange Commission - working
together in the formulation of a National Crisis Management
framework.

The DIC commissioned a market survey to assess public and
stakeholder awareness of the DIC. The survey utilized focus
groups and a house-to-house campaign, targeted 1,030
respondents from North, South, East and Central Trinidad as