Financial Services Compensation Scheme chief executive Suzanne McCarthy has been elected the first chairman of the new European Forum of Deposit Insurers.
The forum is a voluntary body set up in October to promote the exchange of ideas and experience on deposit protection in Europe. It aims to contribute to the stability of financial systems by promoting co-operation.
Membership of the forum is open to all deposit insurance, depositor protection, deposit guarantee schemes or schemes of a similar nature in any European country. The first meeting last month attracted more than 40 representatives from 26 countries, including Bosnia, Denmark, Greece and Spain.
Guest observers from the European Commission, the International Monetary Fund, the World Bank, the European Central Bank and the European Banking Federation also attended the meeting.
McCarthy says: “The setting up of this forum enables us to discuss and exchange experience of deposit insurance issues affecting all European countries.”