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IBFed Response on Cross Border Recogntion of Resolution Action

8 Dec 2014

The Financial Stability Board (‘FSB’) has played an important role in promoting the development of robust resolution regimes through the development of the Key Attributes and related initiatives. The recent progress report provided by the FSB to the G20 provides a useful summary of this work. We note that it finds that jurisdictions have made ‘continued progress’ towards adopting the tools and powers necessary to resolve failing banks in an orderly manner2. Nevertheless, as the report notes, there are outstanding issues to be addressed and we concur that the cross-border recognition of resolution actions must be regarded as a priority.

IBFed Response on Cross Border Recogntion of Resolution Action
 
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