Last month, the Financial Stability Board (FSB) announced a strategic review of its crisis preparedness activities, aimed at strengthening the global framework for managing financial institution failures and sectoral disruptions.
The review will assess all stages of a crisis, from early intervention through resolution to post-stabilisation restructuring, and examine gaps exposed by periods of financial turmoil since the FSB’s formation in 2009. It will also reinforce the Key Attributes of Effective Resolution Regimes as the international standard for resolution.
Andrea Enria, past-Chair of the Supervisory Board at the European Central Bank, has been appointed to lead the review. “The ability to manage crises effectively,” Enria said, “is not just a technical requirement but a cornerstone of global financial stability.”
For more from Andrea Enria, don’t miss his In Focus interview from our 2024 Compendium, in which he argued that supervisory efforts must increasingly focus on risks that derive from governance and culture failures to be in a better position to prevent future crises. ▸ Read More
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