On 25 April 2024, the Financial Stability Board (FSB) issued a report on financial resources and tools for central counterparty (CCP) resolution.

In the report, which incorporates feedback from a public consultation, the FSB identifies a toolbox approach as an effective means for resolution authorities to support CCP resolution. In the toolbox approach, resolution authorities should have ready access to a combination of resources and tools from the toolbox as options to use in resolution. The resolution toolbox comprises a set of resolution-specific resources and tools available for resolution and if available, financial resources from access to non-exhausted recovery tools.

Implementation of the toolbox approach will be achieved through amendments to the Financial Market Infrastructures Annex of the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions and the 2020 Guidance on Financial Resources to Support CCP Resolution and on the Treatment of CCP Equity in Resolution.

The FSB will monitor implementation for CCPs that are systemically important in more than one jurisdiction through the FSB’s established Resolvability Assessment Process and Crisis Management Group monitoring. The findings will be aggregated and published in the FSB’s annual report.