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Case Study on Public Awareness

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Deposit Insurance Seminar for the Western Balkans - Basel, Switzerland, 8 - 9 December 2003.

Deposit Insurance Seminar for the Western Balkans - Basel, Switzerland, 8 - 9 December 2003.

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  • 1. IADI/EBRDSeminar on Deposit Insurance for the Western Balkans BIS, December 8-9, 2003 Case Study on Public Awareness - Bulgaria Presentation by:Ms. Roumyana Markova, Chief Expert, International Cooperation Bulgarian Deposit Insurance Fund
  • 2. General background Public awareness is often overlooked in DIS design Essential that the public knows about the benefits and limitations of the scheme Although costs may be considerable, the need for public awareness should not be underestimated FSF Working Group on Deposit Insurance Discussion Paper on Public Awareness D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans
  • 3. BDIF public relations Public relations policy - since BDIF establishment in 1999 – objectives and principles Public Relations Rules - 2000 – specify terms and procedures for relationships with the media and general public, and other BDIF communication activities – chief spokesperson - BDIF Chairman Organization of PR activities - in-house resources D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans
  • 4. BDIF public awareness program during the years of operation Objectives – dissemination of information on DIS features & BDIF functions – restoring confidence in the banking system – provision of relevant practical information in two bank failures in 1999 and 2000 Target audiences – general public – media – banks and banking association D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans
  • 5. BDIF public awareness program during the years of operation (con’d) Communication techniques – press releases and conferences, interviews for the media – printed materials: Annual Report, Q & A Brochure on deposit insurance - 2000 – hot telephone line - 2000 – provision of information to general public in BDIF offices – provision of written responses to requests and complaints – BDIF web site - 2001 (both in Bulgarian and English) – discussions and seminars D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans
  • 6. Survey and opinion poll on public awareness of DI in Bulgaria National representative study conducted in 2002 Quantitative & qualitative assessments Findings – 86% of people who have savings have deposited their funds in banks – 24% of respondents know in general about the BDIF – 43% of bank depositors are familiar with the DIS in place – level of awareness of the population and depositors is low – BDIF public image-closely related to one of the banking system D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans
  • 7. Survey and opinion poll on public awareness of DI in Bulgaria (con’d) Recommendations – BDIF should enhance effectiveness in provision of information to the general public – efforts should target both present and potential depositors – deeper involvement of banks’ employees in the information process – diversifying communication channels – major information categories D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans
  • 8. New BDIF public awareness program Why propose a new program – Survey findings and recommendations – new BDIF powers in bank bankruptcy proceedings Objectives – further popularization of the DIS features – maintaining confidence in the banking system – information on harmonization with EU legislation – prompt and effective reaction when failures occur – provision of information on BDIF supervisory functions in bank bankruptcy proceedings – enhancing BDIF image D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans
  • 9. New public awareness program (con’d) Target audiences – present and potential depositors (specific subgroups) – media representatives – banks’ operation and front-line staff; banking association – lawmakers and public officials – uninsured depositors and other creditors of failed banks D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans
  • 10. New public awareness program (con’d) Communications techniques – new ones to be added – educational radio-series on deposit insurance – TV ads – seminars for banks’ branch directors on DIS main features – paid advertisements in printed media – front-door and counter stickers – product registers – public awareness plan for potential future failures – printed materials: new Q & A leaflet on bank bankruptcy – seminar for the media on BDIF functions in bank bankruptcy – revamp of BDIF web site D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans
  • 11. Operational Issues Organization of activities - in-house resources supported by consultancy advice on specific issues Consulting of banks’ officials and banking association Costs Evaluation of results D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans
  • 12. Thank you for your attention D IF S e m in a r, “ R ila ” H o te l D IF S tra te g ic G o a ls a n d O b je c tiv e sIADI/EBRDcto b e r 3 -5 ,on 0 3 B o ro v e ts, O Seminar 2 0 Deposit a n d th e In t’l C o o p e ra tio n & P R 2003t. BIS, December 8-9, D e pInsurance for the Western Balkans