On 15 December 2023, the Financial Stability Board (FSB) issued a 2023 Resolution Report.

The 2023 Resolution Report is the FSB’s twelfth report on the implementation of resolution reforms and takes stock of the progress made by FSB members in implementing resolution reforms and enhancing resolvability across the banking, central counterparty, and insurance sectors. It also sets out the FSB’s 2024 priorities in the resolution area.

The FSB’s resolution workplan for 2024 builds on the lessons learnt from the 2023 bank failures and includes several areas of work to further increase the resolvability of banks, central counterparties, and insurers. For the banking sector, further work will include effective designs for public sector backstop funding mechanisms to support resolution, the choice of resolution strategies and optionality of resolution tools, the operationalisation of bail-in and enhancements to cross-border recognition processes, ways for resolution authorities to respond to the speed of bank runs and the resolution of systemic non-global systemically important banks.