The FSB has once again waded into the controversial debate over who pays when a clearing house goes under and in a consultation paper is looking at a range of options including the use of equity
Resolution and Recovery
FSB consults on CCP resources for resolution
The Financial Stability Board (FSB) is consulting on guidance around the adequacy of financial resources of central counterparty clearing houses (CCP) in the event of them failing and going into resolution.
BRRD could be sidelined in the event of widespread bank failures
With Europe sliding into a deep economic slumber following the Covid-19 pandemic, questions are being asked about the state of some the continent’s banks and whether BRRD is up to resolving them if it comes to that
US regulators extend consultation period for foreign bank resolution plans
US federal prudential regulators have extended the consultation period for proposed guidance for resolution plans submitted by certain large foreign banks by 30 days.
IMF warns about vulnerable banking systems
As a result of the economic turmoil unleashed by the Covid-19 pandemic, the banking systems of some countries may have to be recapitalised or restructured, the IMF warned.
Swiss banks living wills approved, but some need improvement
The recovery and resolution plans or living wills of the two largest Swiss banks have been given the green light by the Swiss Financial Market Supervisory Authority (FINMA), but some of the smaller institutions need to make improvements.
Agencies finalise living wills framework amendments
US regulators have finalised rules that modify the resolution planning requirements, or living wills, for banks.
Living wills of foreign banks given clean bill of health
With no major shortcomings having been found, US regulators decided to sign off on the resolution plans of 82 foreign banks operating in the US.
UK’s resolution regime disclosure requirements spook banks
The UK is the second country to roll out a comprehensive firm-specific resolution regime for banks, but before it even goes live there are already concerns being expressed over the public disclosure aspects of it.
FSB looking to harmonise resolution of G-SIB derivatives portfolios
Starting with a consultation and discussion paper, the FSB appears to be attempting to harmonise regulatory regimes across jurisdictions for the solvent and orderly wind-down of a derivatives portfolio of a failing G-SIB. By Justin Pugsley.
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