On 16 July 2013, the Financial Stability Board (FSB) published the following three papers intended to assist authorities and systemically important financial institutions (SIFIs) in implementing the recovery and resolution planning (RRP) requirements set out under the FSB’s key attributes of effective resolution regimes for financial institutions: Guidance on developing effective resolution strategies This paper describes key considerations […]

Introduction On 11 April 2013, the Financial Stability Board (FSB) published its first “Thematic Review on Resolution Regimes” (the “Review”). The objective of the Review is to evaluate FSB jurisdictions’ existing resolution regimes and any planned changes to those regimes using the FSB’s “Key Attributes of Effective Resolution Regimes for Financial Institutions” (“KAs”) as a […]

On 18 April 2013, the Financial Stability Board (FSB) published a press release announcing the completion of a common data template for globally systemically important banks (G-SIBs). The financial crisis highlighted major gaps in information on systemically important financial institutions, particularly the bilateral linkages between such institutions, or their common exposures and liabilities to financial […]

Introduction On 15 April 2013, the Financial Stability Board (FSB) published its Fifth Progress Report on the implementation by FSB member jurisdictions of the G20 commitment to reform global OTC derivatives markets.  The next progress report is expected to be published ahead of the G20 Leaders Summit in St Petersburg in September 2013. In summary, […]

On 8 March 2013, the Financial Stability Board (FSB) published the first progress report of the Legal Entity Identifier (LEI) Regulatory Oversight Committee (ROC). The report notes that members of the ROC discussed the need for co-ordination in light of plans for LEI implementation in Europe, North America and elsewhere.  The importance of having clear […]

On 12 February 2013, Julian Adams, FSA Director of Insurance, gave a speech at the Economist Insurance Summit in London on the lessons for insurance supervisors from the financial crisis. Mr Adams explained that the overall objective of the FSA is to create an environment in which no insurer is too big, too complex or […]

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 […]

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 over-the-counter (OTC) derivatives reforms, the FSB confirmed that, in April, it will submit to […]

The Financial Stability Board (FSB) issued a press release on 28 January 2013 confirming that the Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier (LEI) System held its inaugural meeting in Toronto on 24/25 January. The ROC is charged with responsibility for overseeing the development of the Global LEI System, which will facilitate […]