FSB fleshes out guidance on resolution
Reports add detail on how to maintain funding and critical functions
The Financial Stability Board (FSB) offered its final guidance today (August 18) on areas of resolution it says still have outstanding issues: continuity of critical functions and emergency funding for global banks.
Banks need to ensure they can continue to operate key services such as IT and "certain operational functions" even during the process of resolution, the FSB said. This is true whether the services are provided in-house or externally.
Under the FSB guidelines, authorities need to
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