Global Banking Watchdog Issues Crisis Planning Guidance

Law360, New York (November 2, 2012, 6:59 PM EDT) -- The Financial Stability Board on Friday unveiled guidance for the development of required recovery and resolution plans for systemically important financial institutions, including how to conduct appropriate stress tests and how to develop strategies to resolve a financial crisis.

The FSB, which represents national banks and reports the progress of financial regulatory reforms to the G-20, said the guidance will help regulators implement recovery and resolution planning requirements for SIFIs, which were mandated at the G-20 Cannes Summit in November 2011.

“Alongside strengthened resolution regimes, recovery...
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