Featured Product

    FDIC and SRB Sign A Cooperation Arrangement

    December 14, 2017

    FDIC and SRB signed a Cooperation Arrangement to further strengthen the close cooperation between the two organizations, in compliance with the legal frameworks in the United States and the EU.

    The Cooperation Arrangement is intended to provide a basis for the exchange of information and cooperation in resolution planning and the implementation of such planning for financial institutions with operations in the Banking Union as well as the United States. FDIC and SRB confirm, through this arrangement, their commitment to strengthen cross-border resolvability by enhancing communication and cooperation. This also confirms their commitment to work together in planning and conducting an orderly cross-border resolution. The goal is to facilitate the resolution of banks present across the respective jurisdictions while maintaining financial stability in the United States and the EU.

    Many large financial institutions have a global presence. Officials from the SRB and FDIC are continuously coordinating with other resolution authorities, tackling the challenges of bank resolution, and preparing for effective cross-border resolution, if needed. Cooperation among resolution authorities is important to help ensure that global systemically important banks (G-SIBs) can fail without major systemic consequences. Bilateral arrangements signed between resolution authorities to underpin this cooperation are an important ingredient for building resolvability together and for advance planning for resolution. FDIC and SRB have, therefore, concluded a Cooperation Arrangement. 

    Related Links

    Keywords: Americas, Europe, EU, US, Banking, Cooperation Arrangement, Cross Border, Resolution, SRB, FDIC

    Related Articles
    News

    BCBS Amends Guidelines on Sound Management of AML/CFT Risks

    BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).

    July 02, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Swap Margin Rule

    US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.

    July 01, 2020 WebPage Regulatory News
    News

    PRA Letter Sets Expectations on Approach to Managing Climate Risks

    PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.

    July 01, 2020 WebPage Regulatory News
    News

    EBA Guidelines on Treatment of Structural Foreign Exchange Under CRR

    EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).

    July 01, 2020 WebPage Regulatory News
    News

    FSB Issues Statement on Impact of COVID-19 Crisis on Benchmark Reform

    FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS Publishes List of Internationally Active Insurance Groups

    IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.

    July 01, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-9C With Respect to PPPLF and CARES Act

    FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).

    July 01, 2020 WebPage Regulatory News
    News

    EC Launches Consultation on Review of Solvency II Directive

    EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.

    July 01, 2020 WebPage Regulatory News
    News

    ECB Consults on Supervisory Approach to Consolidation in Banking

    ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS on Package for 2020 Data Collection on ICS and Aggregation Method

    IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.

    June 30, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5425