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SPEECH | OCTOBER 29, 2024 |
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Remarks by FDIC Chairman Martin J. Gruenberg to the Center for Financial Studies at Goethe University Frankfurt - “A Tale of Two Unions – Deposit Insurance in the United States and Europe”
Good evening. It is a privilege for me to speak with you today.
I especially would like to thank Goethe University’s Center for Financial Studies, and the Center’s President, Professor Doctor Axel Weber, for inviting me. I have known Axel for many years and deeply value him as a colleague and friend.
Today, I would like to talk about the experience with deposit insurance and bank resolution in our two unions, the European Union and the United States. In particular, I will discuss key developments in the European Union and will draw some comparisons to the history of the system in the United States.
This seems to me an especially timely topic since many jurisdictions are continuing to work on enhancing their deposit insurance systems and resolution preparedness in view of lessons learned from the 2023 banking turmoil.
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