Recovery and resolution

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Global Systemically Important Insurers: Updated Assessment Methodology

IAIS revised methodology to identify designated G-SIIs

International Association of Insurance Supervisors revised methodology to identify globally active insurance-dominated financial conglomerates whose distress or disorderly failure could cause significant disruption to the global finance system and economic activity. The new Methodology outlines a five-phase approach to the G-SII assessment process that includes fact-based qualitative and quantitative elements.

Publisher: Global Standard-Setting Bodies Release date: Jun 2016

Type: Standard

Parent: Global Systemically Important Insurers (G-SIIs) and the Policy Measures That Will Apply to Them

Peer: Global Systemically Important Banks: Updated Assessment Methodology and the Higher Loss Absorbency Requirement, 2017 Update of List of Global Systemically Important Banks (G-SIBs)

Topics: Systemically important financial institutions (SIFIs), Recovery and resolution, Capital adequacy

Sectors: Insurance

Developing Effective Resolution Strategies and Plans for Systemically Important Insurers

FSB guidance on applying the Key Attributes to insurers

Financial Stability Board guidance to assist resolution authorities in developing effective resolution strategies and plans for systemic insurers in accordance with the Key Attributes of Effective Resolution Regimes for Financial Institutions. Of relevance to global and domestic systemically important insurers. Developed in consultation with the International Association of Insurance Supervisors (IAIS). Builds on the guidance published in October 2014 on how provisions of the Key Attributes, including resolution powers and the details of recovery and resolution planning, should be interpreted for insurers.

Publisher: Global Standard-Setting Bodies Release date: Jun 2016

Type: Guideline

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

Peer: Recovery and Resolution Planning for SIIs: Guidance on Identification of Critical Functions and Critical Shared Services

Topics: Recovery and resolution, Systemically important financial institutions (SIFIs), Cross-border cooperation

Sectors: Insurance

MiFID Practices for Firms Selling Financial Instruments Subject to the BRRD Resolution Regime

ESMA statement to protect customers when selling bail-in-able financial instruments

European Securities and Markets Authority statement to banks and investment firms to clarify how they should apply relevant Markets in Financial Instruments Directive (MiFID) requirements governing the distribution of financial instruments subject to bail-in under EU's Bank Recovery and Resolution Directive (BRRD) resolution regime, both on advised and non-advised basis, as well as in context of portfolio management.

Publisher: Regional Standard-Setting Bodies Release date: Jun 2016

Type: Standard

Parent: Bank Recovery and Resolution Directive (BRRD)

Peer: Markets in Financial Instruments Directive - MiFID II

Topics: Recovery and resolution, Transparency and disclosure

Sectors: Banking, Securities

Resolution Plan Assessment Framework

FRB and FDIC explanation of resolution planning requirements

US Federal Reserve Board and Federal Deposit Insurance Corporation report sets out resolution planning requirements and provides information on the status of resolution planning in key US banks.

Publisher: National Regulators Release date: Apr 2016 Country: United States

Type: Consultative, discussion and issues paper

Topics: Recovery and resolution, Crisis management and contingency planning

Sectors: Banking

Second Thematic Review on Resolution Regimes

FSB peer review report supports implementation of Key Attributes of Effective Resolution Regimes

Financial Stability Board peer review examines resolution powers available to authorities in FSB jurisdictions and requirements for recovery and resolution plans and resolvability assessments for domestically incorporated banks. Main findings: i) only a small number of FSB members have a bank resolution regime in line with Key Attributes; ii) coverage of bank holding companies is variable across FSB jurisdictions; iii) conditions for use of resolution powers varies across FSB jurisdictions; and iv) progress made to set up processes for recovery planning. Review makes recommendations to fully implement Key Attributes.

Publisher: Global Standard-Setting Bodies Release date: Mar 2016

Type: Consultative, discussion and issues paper

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

Topics: Recovery and resolution, Cross-border cooperation

Sectors: Banking, Insurance, Securities

Guidelines on Cooperation Agreements Between Deposit Guarantee Schemes

EBA guidelines for cooperation among European Union deposit guarantee schemes

European Banking Authority guidelines enhance resilience of deposit guarantee schemes and improve depositor protection, including in cross-border bank failures. Specify minimum content in relation to three key areas to be included in cooperation agreements: i) modalities for repaying depositors by local DGS at branches of banks established in other EU member states; ii) modalities for transfer of contributions from one DGS to another in case a credit institution ceases to be a member of a DGS and joins another DGS; and iii) modalities for mutual lending between DGSs.

Publisher: Regional Standard-Setting Bodies Release date: Feb 2016

Type: Guideline

Parent: EU Deposit Guarantee Scheme Directive

Topics: Deposit insurance, Recovery and resolution, Cross-border cooperation

Sectors: Banking

Final Draft Regulatory Technical Standards on Detailed Records of Financial Contracts

EBA standards on contract recordkeeping to implement BRRD

European Banking Authority final draft Regulatory Technical Standards (RTS) on the detailed records of financial contracts that certain banks must maintain that have been developed under the EU bank Recovery and Resolution Directive (BRRD). Specify minimum set of information on financial contracts that should be maintained and circumstances under which requirement to maintain such detailed records should be imposed. Aim to achieve consistent and systemic approach to ensure that authorities are able to quickly and directly obtain relevant information on financial contracts from institutions and relevant entities in order to support application of resolution powers or resolution tools.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2015

Type: Standard

Parent: Bank Recovery and Resolution Directive (BRRD)

Topics: Recovery and resolution, Transparency and disclosure, Derivatives

Sectors: Banking, Securities

Methodology for Valuation of Liabilities Arising from Derivatives

EBA final draft standards on how to value derivatives for purposes of bail-in

European Banking Authority final draft regulatory technical standards on methodology for valuation of derivatives to support potential bail-in of liabilities arising from the close-out of derivative contracts in a bank resolution.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2015

Type: Standard

Parent: Bank Recovery and Resolution Directive (BRRD)

Topics: Recovery and resolution, Cross-border cooperation

Sectors: Banking, Securities

Power to Direct Institutions to Address Impediments to Resolvability

BOE response to consultation and statement of policy

Bank of England final policy for exercising its statutory power to direct institutions to address impediments to their resolvability under the EU Bank Recovery and Resolution Directive (BRRD). Addresses how BOE will identify and remedy impediments to resolution as part of resolution planning and otherwise.

Publisher: National Regulators Release date: Dec 2015 Country: United Kingdom

Type: Law, Regulation and Policy

Topics: Recovery and resolution

Sectors: Banking, Securities

Recovery Planning Scenarios

EBA comparative report on approach taken on recovery plan scenarios

European Banking Authority benchmarking report on how scenarios included in EU recovery plans have been developed so far. The objective of including scenarios in a recovery plan is to help assess whether the institution's recovery options are robust enough to cope with a wide range of severe shocks, and whether its recovery indicators and trigger levels are appropriate and timely for these options to be executed. Areas for improvement include relevance and severity of scenarios and their impact on relevant recovery indicators. Comparison analysis should be beneficial to credit institutions in identifying best practices and their positioning in relation to peers, ultimately contributing to ensuring that their approach to scenarios is correctly addressed in development of recovery plans.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2015

Type: Implementation

Parent: Bank Recovery and Resolution Directive (BRRD)

Peer: Recovery Planning, Comparative Report on the Approach to Determining Critical Functions and Core Business Lines in Recovery Plans

Topics: Recovery and resolution, Stress-testing

Sectors: Banking, Securities

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Resources

382 records

Global Systemically Important Insurers: Updated Assessment Methodology

Developing Effective Resolution Strategies and Plans for Systemically Important Insurers

MiFID Practices for Firms Selling Financial Instruments Subject to the BRRD Resolution Regime

Resolution Plan Assessment Framework

Second Thematic Review on Resolution Regimes

Guidelines on Cooperation Agreements Between Deposit Guarantee Schemes

Final Draft Regulatory Technical Standards on Detailed Records of Financial Contracts

Methodology for Valuation of Liabilities Arising from Derivatives

Power to Direct Institutions to Address Impediments to Resolvability

Recovery Planning Scenarios

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