Madam Speaker,  In 2016, the House of Assembly passed the Virgin Islands Deposit Insurance Act, which sought to establish the Virgin Islands Deposit Insurance Corporation (VIDIC) and a Deposit Insurance Fund to provide, inter alia, limited compensation to insured depositors under certain circumstances.  It is envisaged that a deposit insurance scheme would assist in the restoration and maintenance of confidence in the stability of deposit-taking institutions, and in achieving this objective, reduce the probability of contagious deposit run