FSB Publishes Responses to Consultation on Resolvability Disclosures
FSB published responses received to the consultation on disclosures for resolution planning and resolvability of banks. The discussion paper focused mainly on disclosures of resolution planning for global systemically important banks (G-SIBs) and explored how general and firm-specific disclosures on resolution planning and resolvability could be enhanced. However, many of the disclosure approaches discussed are also relevant for domestic systemically important banks and other firms subject to resolution planning requirements. FSB published responses received from Bank Policy Institute (BPI) and Financial Services Forum (FSF), CLS Bank International, European Banking Federation (EBF), Institute for International Finance (IIF) and the Global Financial Markets Association (GFMA), and Japanese Bankers Association (JBA). The comment period on the consultation had ended on August 02, 2019.
The discussion paper drew on the current practices on disclosure of general information by authorities and of firm-specific information by both authorities and firms on resolution regimes and resolution planning. FSB was seeking feedback on the merits of such disclosures and ways to enhance disclosure practices. The discussion paper focused on ex-ante disclosures on resolution planning and resolvability. Such disclosures should help strengthen market discipline and public accountability and offer additional incentives for firms to remove any remaining barriers to resolvability. Additionally, ex-ante disclosures may clarify expectations and strengthen market confidence in the resolution actions of authorities. The discussion paper did not cover communications and disclosures in the lead-up to a resolution or as a resolution event unfolds, nor did it discuss ex-post disclosures, such as information about specific resolution cases or legal cases.
Related Links
Keywords: International, Banking, Resolution Planning, Resolvability, G-SIB, Disclosure, Systemic Risk, Responses to Consultation, FSB
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Previous Article
ECB Recommendations Address Impact of Transition from EONIA to €STRRelated Articles
EC Adopts Financial Reporting Changes Arising from Benchmark Reforms
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HMT Updates List of Post-Brexit Equivalence Decisions in UK
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA Issues Erratum for Technical Package on Reporting Framework 3.0
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA Publishes FAQ on Measurement of Credit Risk Weighted Assets
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
EBA Publishes Risk Dashboard for Third Quarter of 2020
EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.
ECB Analysis Shows Privacy as Biggest Concern in Use of Digital Euro
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB Finalizes Guide on Supervisory Approach to Bank Consolidation
ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.
SRB Chair Outlines Work Priorities for 2021
The SRB Chair Elke König published an article setting out work priorities for 2021.
FDIC Selects Companies to Compete in Final Phase of Tech Sprint
FDIC has selected 11 technology companies—including BearingPoint, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the third and final phase of the rapid prototyping competition.
