AIMA

After witnessing the global economic impacts of the failure of systemically important bank and non-bank financial institutions (SIFIs), G20 leaders agreed that action was necessary.

During the Summit of November 2010 in Seoul, the G20 called upon the Financial Stability Board (FSB) to consider and develop concrete policy recommendations in order to address problems associated with the failure of such institutions.

On 9 July 2011, the Financial Stability Board (FSB) published a consultation entitled ‘Effective resolution of systemically important financial institutions’. The consultation proposed a comprehensive package of policy measures to improve the capacity of national authorities to deal with failing SIFIs.After consideration of the responses received, the FSB released its ‘Key Attributes for Effective Resolution Regimes’ in October 2011.

The FSB ‘Key Attributes’ have now been endorsed by the G20 and form the basis of the recovery and resolution initiatives currently being undertaken globally at both national and international level.

Relevant consultations

FSB consultation on Recovery and Resolution Planning: Making the Key Attributes Requirements Operational (November 2012)

FSB consultation on Effective Resolution of Systemically Important Financial Institutions (July 2011)

AIMA documents

Response to FSB consultation on Effective Resolution of Systemically Important Financial Institutions (September 2011)

Key documents

Responses to FSB Consultation on Recovery and Resolution Planning: Making the Key Attributes Requirements Operational (December 2012)

FSB Progress Report - Resolution of Systemically Important Financial Institutions (November 2012)

FSB Key Attributes of Effective Resolution Regimes for Financial Institutions (October 2011)