FSB to Complete G-SIFI RRP Reforms Before Concentrating on Non-Banks
The Financial Stability Board (FSB) has published a press release regarding the meeting which took place in Zurich on 28 January 2013 to discuss vulnerabilities affecting the global financial system and progress to strengthen global financial regulation.
On the subject of resolving failing financial institutions, the FSB confirmed that, in April, it will publish its final peer review of resolution regimes. Thereafter, the FSB’s work on resolution in 2013 will focus on three main objectives:
addressing remaining obstacles to the implementation of resolution strategies for G-SIFIs;
- launching an effective resolvability assessment process for G-SIFIs; and
- developing guidance for the resolution of non-bank financial institutions.