The Financial Stability Board (FSB) has launched the second review of resolution regimes in FSB member jurisdictions. The objective of the review is to examine the range and nature of resolution powers that are available in FSB jurisdictions for the banking sector, and to take stock of any requirements for recovery and resolution planning for domestically incorporated banks in FSB jurisdictions that could be systemically significant or critical in failure.
The abbreviated terms of reference provide more details on the objectives, process and timelines of this review. A questionnaire to collect information from national authorities has been distributed to FSB members. The responses will be analysed and discussed by the FSB later this year. The peer review report will be published in early 2016.
As part of this peer review, the FSB invites feedback from financial institutions, industry and consumer associations as well as other stakeholders on the implementation of reforms to resolution regimes in the areas covered by the peer review. This could include comments on:
- the adequacy and nature of national resolution regimes for banks in FSB jurisdictions, including the institutional arrangements for resolution authorities and the role of the court in the resolution process;
- the scope and design of guidance by the authorities for entry into resolution and for the exercise of bank resolution powers;
- factors that may affect the way that resolution powers may be exercised in different resolution regimes and their implications for the effectiveness of those powers; and
- experiences and challenges with undergoing recovery or resolution planning and resolvability assessments.
Feedback should be submitted by 8 May 2015 to firstname.lastname@example.org under the subject heading “FSB Thematic Peer Review on Resolution Regimes.” Individual submissions will not be made public.