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It is designed to promote consistent assessments across jurisdictions and provide guidance to jurisdictions when adopting or reforming bank resolution regimes.
This methodology addresses comments from the public consultation and incorporates the experience of the field tests and the peer review. It is the first step in implementing a modular approach that entails the development of self-contained and free-standing methodologies that are tailored to the specific features of a particular sector and facilitate the assessment of resolution regimes for different types of institutions, for example banks, insurers and financial market infrastructures.
Elke König, Chair of the FSB Resolution Steering Group and Chair of the European Single Resolution Board welcomed the publication of the Key Attributes Assessment Methodology for the Banking Sector. She said that “A consistent implementation in substance and scope of the Key Attributes across jurisdictions is essential to achieving the objectives of post-crisis reforms. The FSB’s resolution progress report that we published this August shows that implementation progress is uneven and that there remains substantial work to put in place effective resolution regimes and operationalise resolution plans for cross-border firms. The Assessment Methodology is a useful tool to facilitate an informed and consistent analysis of compliance with the Key Attributes and will assist jurisdictions in their reform efforts. I therefore encourage all jurisdictions to use the Assessment Methodology to evaluate their bank resolution regimes.”
The FSB will continue to monitor implementation of the Key Attributes. FSB jurisdictions have agreed to undergo an assessment of their bank resolution regimes on the basis of the Assessment Methodology.