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The conference was organized with the purpose of creating a forum to discuss the major issues involved in etablishing an explicit deposit protection program and it seems to have served its purpose well. We have had two and one half days of stimulating presentations and discussions during which we have gain a better understanding of the major issues involved in the conduct of a deposit protection
system.
There seems to be wide agreement on the rationale for offering some type of protection to depositors. whether it be an explicit or implicit deposit protection.
Maintaining depositor confidence in the depository system is essential to assuring the stability of the nations financial system. Loss of confidence by depositors may result in contagious bank runs potentially causing the failure of otherwise solvent depository institutions. Failure of depository institutions could result in systemic failure of the depository system which supports not only the payment system of the nation but also the intermediation process which facilitates economic growth. Therefore. all agreed that systemic failure of the depository system is something to be avoided. To avoid the potential for a depositor generated systemic failure. depositors must be protected against loss. How to protect the depositors against loss is the real question.
While the speakers all agree that depositor protection is desirable. they disagree on how this protection should be provided. There seems to be two general choices in terms of providing depositors with this protection. either explicit or implicit deposit protection. Some of the speakers indicated that explicit deposit protection is unnecessary. Their view is basically that the government is ultimately responsible for protecting the depository system and this can be accomplished through closer prudential controls on the depository institutions combined with a government guarantee.

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