In an effort to ensure that no banking organisation is too big to fail, US and European regulators are requiring systemically important banking institutions to file plans that explain how they would recover from an economically distressed situation and how they could be resolved or liquidated safely in the event of failure.
In developing these plans, globally important banks will have to deal with regulators in different countries and with different resolution tools.
The web seminar panel reviewed the final resolution plan regulation in the US and the emerging requirements in the UK and Europe.
- The objectives of recovery and resolution plans
- Resolution powers of the regulators
- The capacity of recovery and resolution planning to avert the next financial crisis
- Content of a plan
- The process for developing a plan
- Criteria for an acceptable plan
- Dealing with different national regulators
Viral Acharya, New York University Stern School of Business
Peter Green, Morrison & Foerster, London
Jeremy Jennings-Mares, Morrison & Foerster, London
Dwight Smith, Morrison & Foerster, Washington, DC
Lukas Becker, International Financial Law Review