On Dec. 5, FSB announced publication of the 2024 resolution report.
FSB issued 2024 resolution report: from lessons to action: enhancing resolution preparedness, which outlines the work the FSB is undertaking to address the remaining lessons for the resolution framework from the 2023 bank failures.
As well as advance the resolution framework for insurers and central counterparties.
Follows FSB Dec. 2023 issued 2023 report on resolution-related work, see #195105.
Summary
This thirteenth report on the implementation of resolution reforms discusses work by FSB’s Resolution Steering Group (ReSG) in 2024 and anticipated work in 2025.
Effective resolution framework for banking sector has been a significant focus for FSB.
The bank failures in 2023 provided several lessons for resolution planning and for the broader elements of the crisis management framework for banks.
Milestones advancing resolution framework for other sectors of financial system.
Finalized a new global standard to support orderly resolution of a central counterparty.
Moreover, the FSB is publishing a list of insurers subject to resolution planning standards consistent with the FSB Key attributes of effective resolution regimes for financial institutions for the first time, as part of this report, see #185293.
The FSB will continue monitoring implementation of global resolution standards.
Dec. 5, 2024 List of Insurers
On Dec. 5, 2024, FSB reported on the list of insurers subject to resolution planning standards issued in the 2024 resolution report, with 13 insurers on first annual list.
List of CCPs that are systemically important in more than one jurisdiction expanded to 14 from its last update in 2022, with addition of ASX Clear (Futures) in Australia.
