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Let’s get critical: FSB RRP guidance sees new functions in the spotlight
22 Jul

Let’s get critical: FSB RRP guidance sees new functions in the spotlight

The FSB has produced a revised set of guidance on the implementation of recovery and resolution planning, based on a consultation issued last November. This may have an impact on how national authorities draft and interpret their RRP regimes, with consequences for legal, treasury and back office functions. The direction taken gives welcome breathing room Read More

24 Jun

Living wills: don’t lose the will to live

  • 24th June 2013
  • RegTechFS

Changing EU rules suggest firms will face 2015 implementation confusion without co-ordination on RRP standards. Another month, another draft Recovery and Resolution Directive. The text is the centrepiece of EU plans for rules and mechanisms which will make banks resolvable without taxpayer bail-outs. However, five years after the crisis the rules have yet to be Read More

05 Mar

EU RRPs: What will looser requirements mean for firms?

  • 5th March 2013
  • RegTechFS

Yesterday, 4th March, the Council published a compromise proposal detailing a possible final draft of the Recovery and Resolution Directive (RRD). Firms can breathe a mild sigh of relief as the document relents on some of the most stringent requirements. However, the proposal extends the rules in other areas creating a mixed picture overall. The Read More

31 Jan

Recovery & Resolution: The operational effects of bail-in

Systemic banks are at various stages in their submission of RRPs to regulators. In the US, tier 1 banks will have already submitted their first plans under Title I of Dodd-Frank, with the other tiers due to submit later in 2013. In the UK, aside from the largest institutions, submission has been delayed multiple times, Read More

28 Jan

The Coming Fragmentation of Cross-Border RRP’s

However, the realisation of such an approach has been stifled by differences between national insolvency regimes and resolution tools. As a result, many assumed that, where such a conflict occurred, national regulators would naturally seek to cooperate on the issue, with one regulator giving sole jurisdiction to the other in order to allow for the Read More

16 Nov

RRPs: Operational deluge coming soon for FMIs

With the world’s most systemic banks having made it through the first round of invasive living wills in 2012, regulators now have their sights on the Financial Market Infrastructure (FMI). Central Counterparties (CCPs), payments systems and exchanges will have a lot to do in 2013 and could do well to heed some lessons from their Read More