The Application Paper on Resolution Powers and Planning provides guidance for supervisors and resolution authorities in implementing a resolution framework, including setting up powers, as well as planning and issues around coordination and cooperation.
This Paper is part of a broader project to help insurance supervisors apply the new standards on recovery and resolution as agreed in the Common Framework for the supervision of Internationally Active Insurance Groups (ComFrame) and the Holistic Framework for the assessment and mitigation of systemic risk in the insurance sector. Recovery and resolution frameworks help reduce the likelihood of a disorderly failure of insurers, as well as the potential adverse impacts of such a failure on policyholders and/or financial stability. An earlier Paper on recovery planning was published in 2019.
Compendium
23 June 2021
The Application Paper on Supervision of Control Functions describes practices aimed at helping supervisors address issues related to the supervision of control functions as described in the Insurance Core Principles (ICPs) and the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame). In particular, the Application Paper supports observance of ICP 8 (Risk Management and Control Functions) and is relevant to ICP 5 (Suitability of Persons) and ICP 7 (Corporate Governance).
The Paper provides insurance supervisors with concrete tools to further strengthen their efforts in assessing and addressing risks to the insurance sector from climate change. It also sets out recommendations and examples of good practice, consistent with the Insurance Core Principles (ICPs). With this publication, the IAIS and SIF aim to promote a globally consistent approach to the supervision of climate-related risks.
31 March 2021
The document outlines a set of principles that provide a framework for the effective management and supervision of operational risk, for use by banks and supervisory authorities when evaluating operational risk management policies and practices. It updates the February 2003 Sound Practices for the Management and Supervision of Operational Risk.
31 March 2021
The objective of these guidelines is to promote a principles-based approach to improving bank’s operational resilience.
The objective of these guidelines is to contribute to the high-quality audits of internationally active banks by communicating supervisory expectations for the audit of ECL estimates and providing questions that banks' audit committees may ask the external auditor.
16 November 2020
This report sets out guidance to support authorities in their assessment of the adequacy of financial resources for central counterparty (CCP) resolution and of the treatment of CCP equity in the context of resolution.
This Guidance Paper investigates by means of an extended survey the most recent experiences and practices in risk management and internal control systems of deposit insurers. Guidance is provided on how risk management should be applied within deposit insurers.
29 October 2020
The OECD Recommendation on Financial Literacy presents a single, comprehensive, instrument on financial literacy to assist governments, other public authorities, and relevant stakeholders in their efforts to design, implement and evaluate financial literacy policies
19 October 2020
This toolkit sets out financial institutions’ effective practices for cyber incident response and recovery.