This week the Financial Stability Board (FDB) published its progress report to the G20. The report focuses on progress to date regards full implementation of the effective resolutions regimes. These resolution regimes were created and set by the FBS as targeted by the G20. They cover the reform of resolution and its planning for globally systemically important financial institutions.
Areas covered within the report include;
- Mitigating for and ultimately the removal of cross board obstacles in resolution and OTC derivative termination rights
- Loss-absorbing capacity
- Recovery and Resolution planning
- Operational continuity in resolution
- Funding of resolution
Finally the press release and report highlights progress of implementation by jurisdiction. Although much progress has been made, there is still allot to do in achieving full implementation.