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    FSB Publishes Responses to Consultation on Resolvability Disclosures

    August 19, 2019

    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.

     

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    Keywords: International, Banking, Resolution Planning, Resolvability, G-SIB, Disclosure, Systemic Risk, Responses to Consultation, FSB

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