The recovery and resolution plans or living wills of the two largest Swiss banks have been given the green light by the Swiss Financial Market Supervisory Authority (FINMA), but some of the smaller institutions need to make improvements.
Resolution and Recovery
Agencies finalise living wills framework amendments
US regulators have finalised rules that modify the resolution planning requirements, or living wills, for banks.
Living wills of foreign banks given clean bill of health
With no major shortcomings having been found, US regulators decided to sign off on the resolution plans of 82 foreign banks operating in the US.
UK’s resolution regime disclosure requirements spook banks
The UK is the second country to roll out a comprehensive firm-specific resolution regime for banks, but before it even goes live there are already concerns being expressed over the public disclosure aspects of it.
FSB looking to harmonise resolution of G-SIB derivatives portfolios
Starting with a consultation and discussion paper, the FSB appears to be attempting to harmonise regulatory regimes across jurisdictions for the solvent and orderly wind-down of a derivatives portfolio of a failing G-SIB. By Justin Pugsley.
FSB consults on winding down failing G-SIBs
Transparency and cross border regulatory cooperation are important aspects for the orderly resolution of a failing globally systemically important bank (G-SIB) the Financial Stability Board [FSB] said in a paper and consultation.
European Parliament wants Italy’s bank shareholder rescue scheme blocked
European Parliamentarians are urging the European Commission to block a plan by Italy’s government to automatically compensate retail shareholders and bondholders in banks that fail as they see it going against EU bank bail-out rules.
Regulators propose easing living will requirements for smaller banks
US Federal prudential regulators are consulting on easing requirements for smaller banks that pose less risk with their living wills to be submitted every three years instead of on a two year basis.
Regulators pass resolution plans of 14 large domestic banks
The 2017 resolution plans submitted by 14 large domestic US banks did not reveal any deficiencies, according to US prudential regulators, and 2019 plans should only include material changes from their previous plans and updated financial statements.
Concern lingers that eurozone may not be ready for another crisis
With a possible recession on the horizon, Europe’s banks are in a stronger position than they were in the run-up to the 2007-9 global financial crisis. Nonetheless, there are still worries about too many weak banks, doubts over stress tests and the failure to complete Europe’s banking union. By Farah Khalique.
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