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The Key Attributes of Effective Resolution Regimes for Financial Institutions (the 'Key Attributes') set out the core elements that the FSB considers to be necessary for an effective resolution regime. Their implementation should allow authorities to resolve financial institutions in an orderly manner without taxpayer exposure to loss from solvency support, while maintaining continuity of their vital economic functions. They set out twelve essential features that should be part of the resolution regimes of all jurisdictions. They relate to:

  • Scope
  • Resolution authority
  • Resolution powers
  • Set-off, netting, collateralisation, segregation of client assets
  • Safeguards
  • Funding of firms in resolution
  • Legal framework conditions for cross-border cooperation
  • Crisis Management Groups (CMGs)
  • Institution-specific cross-border cooperation agreements
  • Resolvability assessments
  • Recovery and resolution planning
  • Access to information and information sharing.

The Annexes to the Key Attributes provide more specific guidance to assist authorities in implementing the Key Attributes with respect to certain aspects of resolution regimes and to particular sectors.The Annexes fall into two categories:

General guidance on the implementation of the Key Attributes (Appendix I):

I-Annex 1: Information sharing for Resolution Purposes (KAs 7 and 12)

I-Annex 2: Institution-specific Cross-border Cooperation Agreements (KA 9) 

I-Annex 3: Resolvability Assessments (KA 10)

I-Annex 4: Recovery and Resolution Plans (KA 11)

I-Annex 5: Temporary Stays on Early Termination Rights (KA 4)

Sector-specific Guidance (Appendix II)

II-Annex 1: Resolution of financial market infrastructure (FMIs) and FMI Participants 

II-Annex 1: Resolution of Insurers

II-Annex 1: Protection of Client Assets in Resolution  

The sector-specific guidance recognises that not all Key Attributes are equally relevant for all sectors and that some require further explanation and interpretation, or some adaptation in order to be effectively implemented in a certain sector. It therefore sets out how the Key Attributes should be understood for the relevant non-bank sectors.