On 27 July 2023, the Financial Stability Board (FSB) published a statement following survey feedback on the continuity of access to financial market infrastructure (FMI) services for firms in resolution.

In October 2022, the FSB Resolution Steering Group surveyed banks, FMI intermediaries and FMIs about their experiences with the FSB framework.

The survey respondents demonstrated, among other points, that:

  • The FSB guidance is seen as a helpful reference for gathering relevant information to support resolution planning, but further uptake by FMIs and FMI intermediaries is needed;
  • Some FMI service providers noted that they would welcome feedback on their questionnaire responses from the users of that information; and
  • A respondent noted that not only banks, but also FMI service providers have information needs to support their own contingency planning.

Based on this feedback, the FSB considers that its existing publications on the topic of firms’ continuity access to FMI services in resolution do not currently need revision. However, the statement on the survey feedback does include a number of clarifications that are intended to further support the information exchange between FMI service providers and FMI service users for contingency planning.

The FSB strongly encourages all FMIs that have not done so, to prepare a response to the FSB questionnaire and to review their response periodically to ensure continued accuracy and usefulness.