On 4 June 2018, the Financial Stability Board (FSB) launched its third thematic peer review on resolution regimes for banks. The objective of the review is to evaluate implementation by FSB jurisdictions of the resolution planning standard set out in the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions (the Key Attributes) and in associated guidance in relation to banks.
The peer review will cover resolution planning for all domestically incorporated banks that could be systemically significant or critical if they fail, domestic systemically important banks and any other banks that could be systemic in failure and are included in resolution planning at a jurisdictional level.
The review will not assess the content or effectiveness of resolution plans for individual banks, but will instead examine the implementation of requirements for resolution planning in FSB jurisdictions and the steps taken by authorities and firms to develop and maintain credible and robust resolution plans, including the development of resolution strategies and operational requirements for their implementation.
The primary source of information for the peer review will be responses to a questionnaire by FSB jurisdictions. The review will also draw as necessary on information from policy papers, guidance and other documents published by authorities and market participants.
As part of the peer review, the FSB invites feedback from financial institutions, industry and consumer associates plus other stakeholders on the aspects of bank resolution planning covered by the peer review. The deadline for feedback on the review is 4 July 2018.