On April 23, the heads of resolution, regulatory and supervisory authorities, central banks, and finance ministries of the US, UK, and EU met for a regular coordination exercise on cross-border resolution planning, the Federal Deposit Insurance Corporation (FDIC) said in a statement.
Resolution and Recovery
Russian-owned bank failures overshadow EU resolution review
The winding down of the European operations of Russian banks could end up costing EU banks and may also influence the current review of the bloc’s bank resolution framework.
Resolution planning by Swiss banks improves, but gaps remain
Resolution and recovery planning by Swiss banks has shown improvement, said the Swiss Financial Market Supervisory Authority (FINMA) while also approving for the first time the plans of the central counterparty clearing house (CCP) and central depository arms of the SIX exchange.
Industry concerned about CPMI-IOSCO CCP models and protocols
Global standard setters CPMI and IOSCO want clearing houses to beef up client clearing services and porting practices, but market experts warn of impossible hurdles.
CPMI and IOSCO consult on CCP access and porting practices
Global standard setters are consulting on ways for client positions at a defaulting central counterparty clearing houses (CCPs) to be ‘ported’ to a viable clearer to avoid quickly liquidating positions, which could disrupt markets.
Bad insolvency regimes keep Europe’s zombie firms alive
Propping up zombie firms beyond the point of viability is often blamed on the banks that continue to support them. However, inefficient resolution regimes might be the real cause.
FDIC to exempt some information from bank resolution plans
Some insured depository institutions (IDIs) are being exempted from certain content requirements for resolution planning, the Federal Deposit Insurance Corporation (FDIC) said in a statement on June 25.
South Africa beds down bank resolution plans following slow progress
South Africa is catching up with its post-financial crisis obligations with a series of reforms that have been in the works for years as it learns from the experience of other jurisdictions.
Private equity firms helped stabilise financial system during last crisis
Research has shown that private equity (PE) investors not only helped failing banks recover well by buying into them after the 2007–2009 global financial crisis (GFC), but also contributed to financial stability, according to a paper published by the Federal Deposit Insurance Corporation (FDIC) on April 22.
Swiss systemic firms improve resolvability, but more work needed
Swiss systemically important financial institutions have been making good progress in their recovery and resolution planning according to an annual report from the Swiss Financial Market Supervisory Authority (FINMA) published on March 19.
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