Crisis management and contingency planning

382 records

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Guidance on Identification of Critical Functions and Critical Shared Services

FSB guidance to assist in meeting recovery and resolution planning requirements

Financial Stability Board guidance to assist authorities and CMGs in their evaluation of the criticality of functions that firms provide to the real economy and financial markets. Aims to promote a common understanding of which functions and shared services are critical by providing shared definitions and evaluation criteria. Covers the functions and services provided by banks and therefore does not cover functions provided by insurance firms or financial market infrastructures (FMIs), though some elements of this guidance paper may be relevant to other sectors.

Publisher: Global Standard-Setting Bodies Release date: Jul 2013

Type: Guideline

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

Topics: Systemically important financial institutions (SIFIs), Crisis management and contingency planning, Recovery and resolution

Sectors: Banking, Insurance, Securities

Guidance on Developing Effective Resolution Strategies

FSB guidance to assist home and host authorities in meeting resolution planning requirements

Guidance to assist home and host authorities in meeting the resolution planning requirements under the Financial Stability Board's Key Attributes for Effective Resolution Regimes. Describes key considerations and pre-conditions for the development and successful implementation of effective resolution strategies. Complements the Essential Elements of Recovery and Resolution Plans set out in Annex III to the Key Attributes.

Publisher: Global Standard-Setting Bodies Release date: Jul 2013

Type: Guideline

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

Topics: Systemically important financial institutions (SIFIs), Crisis management and contingency planning, Recovery and resolution

Sectors: Banking, Insurance, Securities

Guidance on Recovery Triggers and Stress Scenarios

FSB guidance to assist in implementing recovery plan requirements

Financial Stability Board guidance on two specific aspects of recovery plans: i) the design and nature of criteria triggering senior management consideration of recovery actions ("triggers"), a firm's reactions to breached triggers, and engagement by supervisory and resolution authorities following breached triggers; and ii) the severity of hypothetical stress scenarios and the design of stress scenarios more generally. Complements the guidance on recovery plans set out in Annex III to the Key Attributes for Effective Resolution Regimes.

Publisher: Global Standard-Setting Bodies Release date: Jul 2013

Type: Guideline

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

Topics: Systemically important financial institutions (SIFIs), Crisis management and contingency planning, Recovery and resolution

Sectors: Banking, Insurance, Securities

Global Systemically Important Banks: Updated Assessment Methodology and the Higher Loss Absorbency Requirement

BCBS 2013 update of the G-SIB framework

Basel Committee on Banking Supervision updated methodology for assessing and identifying global systemically important banks (G-SIBs). Describes additional loss absorbency requirements that will apply to G-SIBs, the phase-in arrangements and the disclosures banks above a certain size are required to make. Assessment methodology is based on an indicator-based approach and comprises five broad categories: size, interconnectedness, lack of readily available substitutes or financial institution infrastructure, global (cross-jurisdictional) activity and complexity. Additional loss absorbency requirements will range from 1% to 2.5% Common Equity Tier 1 (CET1) depending on bank's systemic importance with an initially empty bucket of 3.5% CET1 as means to discourage banks from becoming even more systemically important.

Publisher: Global Standard-Setting Bodies Release date: Jun 2013

Type: Standard

Parent: Liquidity Coverage Ratio Disclosure Standards

Topics: Systemically important financial institutions (SIFIs), Recovery and resolution, Capital adequacy, Supervisory framework, Crisis management and contingency planning, Transparency and disclosure

Sectors: Banking

Macrofinancial Stress Testing - Principles and Practices

IMF paper on seven best practices for stress testing

International Monetary Fund paper proposes seven "best practices" principles for stress testing: i) define the institutional perimeter for the tests; ii) identify all relevant channels of risk propagation; iii) include all material risks and buffers; iv) make use of the investors' viewpoint in design of stress tests; v) focus on all risks; vi) when communicating stress test results, speak smarter, not just louder; and vii) beware of the "black swan". While principles focus mainly on stress tests conducted for macrofinancial surveillance purposes, they also apply to stress tests undertaken for other purposes, such as microprudential oversight and institution-specific assessment.

Publisher: International Organizations Release date: Aug 2012

Type: Consultative, discussion and issues paper

Topics: Stress-testing, Crisis management and contingency planning, Macroprudential

Sectors: Banking

Money Market Fund Systemic Risk Analysis and Reform Options

IOSCO preliminary analysis of possible risks of money market funds to systemic stability

International Organization of Securities Commissions consultative paper identifies main areas of risk for money market funds and describes different policy options being considered.

Publisher: Global Standard-Setting Bodies Release date: Apr 2012

Type: Consultative, discussion and issues paper

Topics: Systemic risk, Crisis management and contingency planning

Sectors: Securities

New Technology-Based Outsourcing Arrangements

OSFI expectations regarding IT outsourcing arrangements

Office of the Superintendent of Financial Institutions of Canada expectations for regulated firms that outsource information technology services. Guides design of an appropriate outsourcing risk management program. Expectations relate in particular to: i) confidentiality, security and separation of property; ii) contingency planning; iii) location of records; iv) access and audit rights; v) subcontracting; and vi) monitoring the material outsourcing arrangements.

Publisher: National Regulators Release date: Feb 2012 Country: Canada

Type: Sound Practice

Peer: Outsourcing of Business Activities, Functions and Processes

Topics: Risk management, Operational risk, Crisis management and contingency planning

Sectors: Banking, Insurance, Pensions

Progress Report on Increasing the Intensity and Effectiveness of SIFI Supervision

FSB report citing improvements and ongoing weaknesses in SIFI supervisory practices

Financial Stability Board report updating the status of efforts by FSB member jurisdictions to strengthen supervision of Systemically Important Financial Institutions. Notes move in many countries toward more extensive and deeper engagement with SIFIs.

Publisher: Global Standard-Setting Bodies Release date: Jan 2012

Type: Implementation

Parent: Intensity and Effectiveness of SIFI Supervision: Recommendations for Enhanced Supervision

Topics: Risk management, Supervisory framework, Systemically important financial institutions (SIFIs), Crisis management and contingency planning

Sectors: Banking, Insurance, Securities

Stress-Testing Macro Stress Testing: Does It Live Up to Expectations?

BIS working paper assessing strengths and weaknesses of macro stress testing

Bank for International Settlements working paper reviewing state of the art in macro stress testing, and assessing its strengths and weaknesses. Argues that, given current technology, macro stress tests are ill-suited as early warning devices, i.e. as tools for identifying vulnerabilities during seemingly tranquil times and for triggering remedial action. By contrast, as long as properly designed, stress tests can be quite effective as crisis management and resolution tools. Identifies additional side benefits, stemming largely from the way such tests can discipline thinking about financial stability and suggests ways to improve their performance.

Publisher: International Organizations Release date: Dec 2011

Type: Consultative, discussion and issues paper

Topics: Stress-testing, Macroprudential, Crisis management and contingency planning

Sectors: Banking

Developing a Framework for Effective Financial Crisis Management

OECD Journal article setting out a decision-making process for the various authorities that are part of the financial system safety net

Discusses the roles and responsibilities of various agencies that are part of the financial system safety net. Sets out a framework for the decision-making process for these actors in the management of a financial crisis. Discusses issues of micro- and macroprudential oversight and argues that more needs to be done to ensure accountability, independence, transparency and integrity of the various actors of the financial system safety net.

Publisher: International Organizations Release date: Nov 2011

Type: Consultative, discussion and issues paper

Topics: Crisis management and contingency planning, Macroprudential, Systemic risk

Sectors: Banking

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Resources

382 records

Guidance on Identification of Critical Functions and Critical Shared Services

Guidance on Developing Effective Resolution Strategies

Guidance on Recovery Triggers and Stress Scenarios

Global Systemically Important Banks: Updated Assessment Methodology and the Higher Loss Absorbency Requirement

Macrofinancial Stress Testing - Principles and Practices

Money Market Fund Systemic Risk Analysis and Reform Options

New Technology-Based Outsourcing Arrangements

Progress Report on Increasing the Intensity and Effectiveness of SIFI Supervision

Stress-Testing Macro Stress Testing: Does It Live Up to Expectations?

Developing a Framework for Effective Financial Crisis Management

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