金融安全网中的“安全”：建立健全的存款保险制度

MONETARY AND CAPITAL MARKETS DEPARTMENT The “Safe” in the FinancialSafety Net—Building RobustDeposit Insurance Systems Prepared by Atilla Arda, Marc Dobler, Peter Mugisa, Jan Nolte,and David Parker INTERNATIONAL MONETARY FUND MONETARY AND CAPITAL MARKETS DEPARTMENT DEPARTMENTAL PAPERThe “Safe” in the Financial Safety Net—Building Robust Prepared by Atilla Arda, Marc Dobler, Peter Mugisa, Jan Nolte,and David Parker Cataloging-in-Publication DataIMF Library Names: Arda, Atilla, author. | Dobler, Marc, author. | Mugisa, Peter, author. | Nolte, Jan Philipp, author. | Parker,David C. (David Cameron), 1955-, author. | International Monetary Fund, publisher. Title: The “safe” in the financial safety net: building robust deposit insurance systems / Atilla Arda, MarcDobler, Peter Mugisa, Jan Nolte, and David Parker. Other titles: Departmental paper. | International Monetary Fund. Monetary and Capital Markets Department.Description: Washington, DC: International Monetary Fund, 2026. | Includes bibliographical references. 9798229035200(paper)9798229036474(ePub)9798229036245(WebPDF)Subjects: LCSH: Deposit insurance. | Banks and banking. This departmental paper reflects contributions from the Financial Crisis Preparedness and ManagementDivision of the IMF’s Monetary and Capital Markets Department and review comments from the IMF’sResearch Department and Legal Department. Special acknowledgments for inputs and comments go to The Departmental Paper Series presents research by IMF staff on issues of broad regional or cross-country interest. The views expressed in this paper are those of the author(s) and do not necessarily Publication orders may be placed online or through the mail:International Monetary Fund, Publication ServicesP.O. Box 92780, Washington, DC 20090, USAT. +(1) 202.623.7430 Contents Executive Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .vAcronyms and Abbreviations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .vii 1. Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 A. The Global Financial Crisis Lessons. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1B. The 2023 Banking Turmoil. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1C. Evolution of DIS Standards. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1D. The Purpose of This Paper. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 2. Transitioning to a Robust DIS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3A. Operating Environment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 B. Mandates and Institutional Setup. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3C. Public versus Private DIS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7D. DIS Governance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 3. Effective Compensation of Depositors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10A. DIS Role in Resolution Funding. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 B. Reimbursement and Transfer of Deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12C. Depositor Preference. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 4. Sufficient DIS Funding. . . . . .