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FSB policy document setting out critical policy measures that form parts of the FSB SIFI Framework
Financial Stability Board policy document with specific measures that focus on global SIFIs (G-SIFIs) to reflect the greater risks that these institutions pose to the global financial system. The policy measures announced today comprise: i) a new international standard as a point of reference for reforms of national resolution regimes, to strengthen authorities’ powers to resolve failing financial firms in an orderly manner and without exposing the taxpayer to the risk of loss; ii) requirements for resolvability assessments, recovery and resolution plans and institution-specific cross-border cooperation agreements for G-SIFIs; iii) requirements for additional loss absorption capacity above the Basel III minimum for global systemically important banks; and iv) more intensive and effective supervision through stronger supervisory mandates, and higher supervisory expectations for risk management functions, risk data aggregation capabilities, risk governance and internal controls.
Publisher:
Global Standard-Setting Bodies
Release date:
Nov 2011
Type:
Law, Regulation and Policy
Peer:
2017 Update of List of Global Systemically Important Banks (G-SIBs)
Topics:
Systemically important financial institutions (SIFIs), Risk management, Crisis management and contingency planning, Recovery and resolution
Sectors:
Banking, Insurance
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