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ARTICLE · 16 APRIL 2014

FSB Sets Out Next Steps For Financial Regulatory Reform

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On 31 March 2014, the Financial Stability Board ("FSB") published a note of its meeting that day

United StatesFinance and Banking
A&O Shearman
A&O Shearman
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On 31 March 2014, the Financial Stability Board ("FSB") published a note of its meeting that day. The note sets out the following next steps for policy work relating to financial regulatory reform:

  • Ending too-big-to-fail: the FSB intends, by the Brisbane Summit (15-16 November 2014), to develop (i) proposals on the adequacy, composition and location of gone-concern loss-absorbing capacity for global systemically important banks ("G-SIBs"); (ii) a framework for cross-border recognition of resolution actions including contractual and statutory elements (it was agreed that the industry should develop a proposal for a contractual approach before September 2014); (iii) a basic capital requirement for global systemically important insurers (work to be done by the International Association of Insurance Supervisors); and (iv) a report on the cross-border impacts of structural banking reforms being implemented and proposed in various jurisdictions. The note also states that

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