FSB to focus on large bank resolution preparedness, resolutions for CCPs in 2023

The Financial Stability Board will continue to focus its efforts in 2023 on bank resolution preparedness, and completing resolution frameworks for central counterparties and insurers, according to the group’s resolution report released today.

The report noted that resolution planning frameworks for global systemically important banks are maturing “and the focus is shifting to increasingly fine-tuning and testing resolution preparedness.” Among other things, the report noted that “more progress is necessary on the cross-border mobilization of collateral to facilitate access to liquidity in resolution.” The FSB signaled that it would do additional work to determine the legal, regulatory and operational obstacles to cross-border funding in the coming year.