Better resolution plans for failed banks needed, FSB official says, flagging EU agency

10 July 2019 8:09pm
A top Financial Stability Board official urged banks and national regulators to ensure adequate funding is available to unwind firms that collapse in a crisis, pointing to challenges the EU resolution authority faces.

For the EU’s Single Resolution Board, FSB Vice Chairman Klaas Knot said “the public backstop funding mechanism is still very much a work in progress.”

“There are quite a few challenges that need to be overcome,” he added.