This report outlines the work the FSB is undertaking to address the remaining lessons for the resolution framework from the 2023 bank failures and to advance the resolution framework for insurers and central counterparties.
Ensuring an effective resolution framework for the banking sector has been a significant focus for the FSB. The bank failures in 2023 provided several lessons for resolution planning and for the broader elements of the crisis management framework for banks. The FSB is progressing work to address the remaining lessons for the resolution framework from the 2023 bank failures.
The FSB achieved important milestones advancing resolution framework development for other sectors of the financial system. The FSB finalised a new global standard to support the orderly resolution of a central counterparty. Moreover, the FSB is publishing a list of insurers subject to resolution planning standards consistent with the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions for the first time, as part of this report.
The FSB will continue monitoring implementation of global resolution standards.