Sabourin, Jean Pierre --- "Special Address: The Deposit Insurer’s Role in Transitioning from a Government Deposit Guarantee" [2011] ELECD 483; in LaBrosse, Raymond John; Olivares-Caminal, Rodrigo; Singh, Dalvinder (eds), "Managing Risk in the Financial System" (Edward Elgar Publishing, 2011)

Book Title: Managing Risk in the Financial System

Editor(s): LaBrosse, Raymond John; Olivares-Caminal, Rodrigo; Singh, Dalvinder

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9780857933812

Section Title: Special Address: The Deposit Insurer’s Role in Transitioning from a Government Deposit Guarantee

Author(s): Sabourin, Jean Pierre

Number of pages: 10

Extract:

Special Address
The deposit insurer's role in transitioning
from a government deposit guarantee
Jean Pierre Sabourin1

It is an honour for me to participate once again in this prestigious sym-
posium and I appreciate the opportunity to be here today to speak to this
distinguished group. Many thanks to Ray LaBrosse and the organizers
of this symposium for this kind invitation. Having seen and participated
in the success of last year's symposium, the Malaysia Deposit Insurance
Corporation, or otherwise known as MDIC, is, once again, proud to be a
co-sponsor of this symposium.
What a difference a year makes! This time last year, the global economy
was mired in the depth of the worst recession since the Great Depression.
Fast forward one year, recent months have brought better economic news
with traces of more sustaining growth becoming more visible. At the time
of writing, the healing of financial conditions along with gradually build-
ing public confidence remains supportive to keep the recovery going. As
the dust settles, I hope we can now better see the proximate causes of the
crisis and solutions to these problems. Hence, it is good for us to recon-
vene in Warwick at a time of recovery from the financial crisis.
This year's symposium on managing systemic risks, and the topics being
discussed, is of great importance to all of us here who share a common
interest in fostering the stability of the financial system. Indeed, with
global financial risks now receding, ...