Resolution
FSB says ‘substantial’ work needed on resolution regimes
Financial Stability Board monitoring exercise finds that only four jurisdictions have resolution regimes in line with its Key Attributes; India among those lagging behind on legislative amendments
Bank of England spells out resolution plans
Central bank details its approach to resolving a failed financial institution, including the use of bail-in, restructuring and international cooperation with other regulators
Fears surface over lack of trust among resolution authorities
Countries still do not trust one another enough to cooperate fully during the resolution of a globally systemic bank, participants at Chatham House event warn
Top UK and US officials join forces to enhance resolution
Officials including Mark Carney and Janet Yellen meet in Washington to improve transatlantic cooperation in the event of a global banking collapse
Carney hails ‘major achievement’ on resolution stays
Isda protocol signed by 18 major banks aims to solve cross-border legal issues, preventing a ‘cascade of termination events’ that could undermine an orderly resolution
EBA zeroes in on recovery and resolution trigger conditions
European Banking Authority publishes final guidelines on testing for bank failure and launches consultation on what conditions could trigger a resolution process
Bulgaria tells Brussels it can't guarantee failed bank deposits
Enforcing bank contributions to a deposit guarantee fund would destabilise the country's banking sector, Bulgarian governor and finance minister tell European Commission
Macro-prudential policies could ‘become part of the problem’, says BIS’ Borio
Weight of expectation on macro-prudential policies to address financial system stresses may be too great, says BIS economics head Claudio Borio; stress tests ‘woefully deficient’ in predicting crises
Fed blasts big banks over ‘unrealistic' living wills
Eleven firms, including Goldman Sachs and JP Morgan, must take ‘immediate action to improve their resolvability', US central bank says
Bank of Portugal splits failed bank BES in 'clean’ resolution
Portuguese central bank splits troubled lender Banco Espírito Santo into good and bad bank as part of a €4.9 billion rescue
BoE moves to prepare UK banks for EU recovery and resolution rules
UK central bank moves to implement EU Bank Recovery and Resolution Directive, a key piece of legislation to prevent taxpayer bailouts of banks
EC tackling final questions on CCP resolution
The European Commission is drawing up proposals on the recovery and resolution of CCPs, but a number of tricky questions still have to be answered
Constancio hails Banking Union's ‘remarkable sharing of sovereignty'
ECB vice-president Vitor Constancio says Banking Union with no common recapitalisation tool requires EU's biggest economies to surrender their advantage
ECB paper finds US resolution authority has not solved too-big-to-fail problem
Research uses creation of US Orderly Liquidation Authority as ‘quasi-natural experiment’, finding many banks are disciplined but the largest still do not believe the threat to be credible
Banks could be forced to leave UK if home regulators are found wanting
Draft rules published today by the UK banking supervisor put pressure on non-EEA countries to up supervision of banks that want to do business in London
Political impasse threatens SRM progress
European parliamentarians express frustration with the slow negotiations over the single resolution mechanism; Martin Schulz urges finance ministers to pick up the pace
HKMA backs public ownership as resolution tool
Proposals for new resolution regime in Hong Kong include the temporary public ownership of failed financial institutions in the proverbial toolbox
ECB says no treaty change needed for SRM
Central bank pushes for introduction of ‘lawful' SRM by 2015; warns delay of bail-in tool may undermine resolution efforts by creating regulatory inconsistency and uncertainty
Robert Pringle’s Viewpoint: ECB needs to play ‘chicken’ to force reform of Europe’s banks
The ECB won a game of brinkmanship with governments to secure the establishment of the bail-out fund. It needs to use the same tactic with three clear elements to force through bank reform
HKMA reviews progress on global financial regulation
Bulletin article outlines the stabilisation options that member jurisdictions should have access to in the event that a too-big-to-fail bank does just that
ECB’s Mersch demands resolution fund clarification
Executive board member Yves Mersch concerned about the loss of credibility if the proposed single resolution fund in the eurozone was drained through a round of bank failures
Buba's Dombret backs EU recovery and resolution plans
Bundesbank board member says new European directive on resolving big banks will be crucial in solving ‘too-big-to-fail', though he has reservations about public participation in the resolution fund
Collateralisation of borrowing may reduce bank resolution costs
This ‘net benefit' should result in lower overall funding costs and thus a lower probability of distress despite increasing encumbrance of the bank's balance sheet, according to a recent IMF paper
ECB's Constâncio welcomes SRM authority with no national veto
European Central Bank vice-president tells Singapore audience that banking union and European financial stability have important implications for the world economy