FSB explores GSIB derivatives resolution planning

摘要

In June, the Financial Stability Board (FSB) released a 10-page discussion and consultation paper entitled The Solvent Wind-down of Derivatives and Trading Portfolios, which mainly focused on the world's 29 global sys-temically important banks (GSIBs), particularly those active in global derivatives markets. There is already plenty of regulation across the major jurisdictions dealing with the resolution and recovery of banks, including the largest ones. In the US in particular stress tests and so-called living wills sit at the core of the regulatory approach. Alongside the UK, it is also the jurisdiction that has given the most thought to winding down the derivatives portfolio of a large, failing bank. Indeed, the FSB paper borrows heavily from the experiences of these two countries.