FSB Consults on Methodology for Assessing the Implementation of the Key Attributes of Effective Resolution Regimes in the Insurance Sector
The Financial Stability Board (FSB) published today a consultation document on a methodology for assessing the implementation of the Key Attributes of Effective Resolution Regimes for Financial Institutions (Key Attributes) in the insurance sector. The Key Attributes Assessment Methodology for the Insurance Sector sets out criteria for assessing the compliance of a jurisdiction's insurance resolution frameworks with the Key Attributes. It is designed to promote consistent assessments across jurisdictions and to provide guidance to jurisdictions when adopting or reforming insurance resolution regimes to implement the Key Attributes. It will be used by the
The Key Attributes remain the umbrella standard for resolution regimes covering financial institutions of all types that could be systemic in failure. The FSB decided to adopt a 'modular approach' and develop self-contained and free-standing methodologies tailored to the particular features of each sector in order to facilitate sector-specific assessments of the Key Attributes. In
Speaking about the release of the consultative document,
The FSB welcomes comments and responses to the questions set out in the consultative documents by 28 February. Responses should be sent to [email protected]. Responses will be published on the FSB website unless respondents expressly request otherwise.
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