The Fed and FDIC have judged the resolution plans of four foreign banks operating in the US as having weaknesses, but that they are not glaring enough to warrant extra prudential measures
Resolution and Recovery
FSB says most jurisdictions hosting G-SIBs have resolution regimes
The FSB said that most jurisdictions hosting too-big-to fail banks largely have resolution regimes in place for them, but is concerned that more work needs to be done on the resolvability of clearing houses and insurers
US agencies pondering refinements to living wills for banks
Speaking at a recent banking conference, FDIC chairwoman said the FDIC and Fed are looking at ways to simplify bank resolution planning and to make it more proportionate to a banks size and complexity
Prudential Financial removed from too big to fail list
Prudential Financial becomes last US insurer to shake off the ‘too big to fail’ designation, with critics seeing it as a significant roll back of the Dodd-Frank Act
FDIC chair says international cooperation essential for resolution planning
In a speech, the FDIC chair said the US regulators are committed to redoubling efforts to foster international regulatory cooperation with regards to resolution planning for G-SIBs
Struggling eurozone states should get debt relief as part of reform package
ESFRC calls for struggling eurozone members states to receive debt relief and a recapitalisation of banks with high levels of non-performing loans in exchange for reforms
Singapore resolution regime maintains narrow scope of bail-in instruments
Following a recent consultation, Singapore’s regulators are in the process of putting in the finishing touches to their bank resolution regime, and while it follows international guidelines closely, it does make one important deviation. By Justin Pugsley.
Russian banking system slowly rehabilitates
The Central Bank of Russia is forging ahead with reforming the country’s banking system, but faces a number of headwinds which could make the task harder. By Justin Pugsley.
Living will deadlines extended for two categories of financial firms
Four foreign banks and one designated non-bank have been given extra time by the Fed and FDIC to file their living will plans
Inadequate risk management leaves banks vulnerable to geopolitical shocks
Though the world is riddled with potential geopolitical hotspots, any one of which could develop into a full blown international crisis, the risk management approach taken by global banks remains worryingly inadequate, according to a risk expert
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