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Information for World Assembly Voters: Deposit Insurance Fund
This proposal aims to establish a Deposit Insurance Fund (referred to as The Fund), with the goal of protecting from savings destruction. It does this by requiring institutions and organizations with demand accounts to enrol in the Fund. Member nations are encouraged to do this as well. The Fund is charged with insuring some "Insured Depository Institutions" (IDIs), and given a sixfold mandate. This mandate outlines what IDIs may be used for, as well as setting up contingency plans should the IDI go bankrupt. The Fund is given the power to enforce its own rules that it should create in order to maintain its mandate. Finally, the Fund is tasked with releasing reports on deposit insurance programmes with member nations in order to provide any guidance that may be needed.
Ministry Analysis:
This proposal is exceptionally well written, and protects against something that has the potential to severely slow down the economies of nations within the World Assembly. Deposit insurance is something that is missing in banking when it comes to the international stage. Funding and deposits between banks isn't currently protected by any institution, and this proposal aims to rectify this. This proposal sets a standard for protections in international banking, and would greatly improve the environment that international banking is done.
This IFV Recommendation was written by Sanjurika
Category: Social Justice
Strength/Target: Mild
Proposed by: Imperium Anglorum[/I]
If you're interested in getting involved, please contact the Minister of World Assembly Affairs, either by personal message on the forums (username: "&B3& ") or by telegram (nation: Sanjurika).
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Dispatch created on behalf of the Ministry of World Assembly Affairs.