FSB Not Planning Further Guidance on Resolution Planning Disclosures
FSB published a summary of comments received on the June 2019 discussion paper on public disclosures for resolution planning and resolvability of banks. The discussion paper explored how general and firm-specific disclosures on resolution planning and resolvability could be further enhanced. Five responses were received from seven different groups. FSB does not plan to develop further guidance on disclosures for resolution planning and resolvability. FSB will again consider in 2022 whether further guidance is needed.
Respondents expressed general support for transparency and disclosure regarding resolution planning and resolvability. They observed that public disclosures by authorities on resolution planning and resolvability of banks can bolster market discipline and accountability, while encouraging firms to remove barriers to resolvability. Several respondents indicated caution about firm-specific disclosures and stressed the need to protect commercially sensitive information. FSB does not plan to develop further guidance on resolution disclosures at this stage. However, it will continue to encourage appropriate levels of disclosure by authorities of their general resolution policies and by firms, as applicable, of firm-specific disclosures. It will also consider how to collect and share references to authorities’ disclosures of general resolution-related policies, including policy proposals, in particular rules with possible cross-border effects.
Related Links
Keywords: International, Banking, Resolution Planning, Resolvability, G-SIB, Disclosure, Systemic Risk, Resolution Framework, Responses to Consultation, FSB
Previous Article
BIS Publishes Several Working Papers in December 2019Related Articles
HKMA Finalizes Policy Modules on Group-Wide Approach and Remuneration
The Hong Kong Monetary Authority (HKMA) revised the Supervisory Policy Manual module CG-5 that sets out guidelines on a sound remuneration system for authorized institutions.
EBA Guide to Monitor Threshold for Intermediate Parent Undertakings
The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).
PRA Finalizes Approach to Supervision of International Banks
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
FCA Issues PS21/9 on Implementation of Investment Firms Regime
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
EBA Proposes Regulatory Standards to Identify Shadow Banking Entities
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
IOSCO Proposes Recommendations on ESG Ratings and Data Providers
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
ESMA Group Issues Recommendations on RFR Switch in Interdealer Market
The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.
ECB Study Assesses Impact of Basel III Finalization Package
The European Central Bank (ECB) published a paper as well as an article in the July Macroprudential Bulletin, both of which offer insights on the assessment of the impact of Basel III finalization package on the euro area.
ISDA Finds FRTB Results in Higher Capital Charges for Carbon Trading
The International Swaps and Derivatives Association (ISDA) published a paper that explores the impact of the Fundamental Review of the Trading Book (FRTB) on the trading of carbon certificates.
PRA Updates Remuneration Policy Statement Templates and Tables
The Prudential Regulation Authority (PRA) published the remuneration policy self-assessment templates and tables on strengthening accountability.
