Featured Product

    FSB Publishes Report on Implementation of Resolution Reforms

    July 06, 2017

    FSB published its sixth report on the implementation of post-crisis resolution reforms. The report highlights that during ten years post the global financial crisis, considerable progress has been made toward ending "too big to fail." However, significant work remains in a number of areas to achieve full implementation of policies developed to ensure resolution of the systemically important institutions.

    The report describes the reform progress since the onset of the global financial crisis. It reports the findings from the Resolvability Assessment Processes for global systemically important banks (G-SIBs) and global systemically important insurers (G-SIIs) and sets out the further actions necessary to fully implement the Key Attributes and ensure that all global systemically important financial institutions are resolvable. The report highlights the following key issues:

    A milestone was achieved in 2017 in the form of the adoption of guidance on central counterparty resolution and resolution planning.

    Significant work remains to address cross-border resolution and authorities need to continue efforts to address the remaining obstacles to the adoption of institution-specific cross-border cooperation agreements, including effective information-sharing arrangements, which are not yet in place for all G-SIBs.

    Resolution planning for G-SIIs is progressing slowly. The absence of effective resolution regimes for insurers in several G-SII home jurisdictions remains an important impediment to resolvability.

    Implementation of the Key Attributes of Effective Resolution Regimes for Financial Institutions across jurisdictions and sectors remains uneven.

    The focus going forward will be on the comprehensive and consistent implementation of agreed resolution policies and on the evaluation of the effects of resolution reforms. 

     

    Related Link: Report on Implementation of Resolution Reforms (PDF)

    Keywords: International, FSB, Banking, Insurance, FMI, Resolution Planning, Regulatory Reform, Securities

    Related Articles
    News

    MAS Concludes Blockchain Payments Prototype Shows Commercial Potential

    MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.

    July 13, 2020 WebPage Regulatory News
    News

    PRA Publishes Public Working Draft of XBRL Taxonomy 1.2.0 for Insurers

    PRA published a public working draft, or PWD, of version 1.2.0 of the BoE Insurance XBRL taxonomy, along with the related technical artefacts.

    July 13, 2020 WebPage Regulatory News
    News

    CPMI Report Sets Out Building Blocks to Enhance Cross-Border Payments

    CPMI published a report that sets out nineteen building blocks for a global roadmap to improve cross-border payments.

    July 13, 2020 WebPage Regulatory News
    News

    EBA Publishes Phase 2 of Technical Package on Reporting Framework 2.10

    EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.

    July 10, 2020 WebPage Regulatory News
    News

    APRA Updates Reporting Validation Rules in July 2020

    APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.

    July 10, 2020 WebPage Regulatory News
    News

    PRA to Partly Apply EBA Guidelines on Disclosures for COVID Measures

    PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.

    July 10, 2020 WebPage Regulatory News
    News

    EBA Updates List of Correlated Currencies Under CRR

    EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.

    July 10, 2020 WebPage Regulatory News
    News

    ESMA Guides on Securitization Repository Data Consistency Thresholds

    ESMA published the final report on the guidelines on securitization repository data completeness and consistency thresholds.

    July 10, 2020 WebPage Regulatory News
    News

    FASB Proposes to Delay Implementation of Insurance Contracts Standard

    FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).

    July 09, 2020 WebPage Regulatory News
    News

    APRA Updates Regulatory Approach to Loan Deferrals Amid COVID Crisis

    APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.

    July 09, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5480