Huertas, Thomas, (2016), “How to deal with the Resolution of Financial Market Infrastructures”, CEPS Series: Task Force Report, 19 Οκτωβρίου
This new interim report by the CEPS Task Force on Implementing Financial Sector Resolution welcomes international efforts to devise guidelines to ensure that FMIs are resolvable, i.e. acknowledging that any FMI can fail, but if an FMI fails, critical operations will continue to be performed. The report argues that European rules in this area should focus on facilitating coordination between supervisors and encouraging restraint on the part of authorities from taking precipitous action. At the same time, however, it calls on supervisors to exercise strong vigilance to identify and remove obstacles to the resolution of an FMI if and when necessary. The latter should also ensure that the loss allocation (‘waterfall’) process, especially in a CCP, can be completed, if necessary, over a ‘resolution weekend’, and that the default fund can be replenished.
Σχετικές Αναρτήσεις
- International Monetary Fund, (2016), “Global Financial Stability Report: Fostering Stability in a Low-Growth, Low-Rate Era”, IMF, Οκτώβριος
- Tucker, Paul, (2016), “The objectives of financial stability policy”, VoxEU, 28 Σεπτεμβρίου