Principles for Cross-border Effectiveness of Resolution Actions
Available as: PDF3 November 2015
These Principles set out statutory and contractual mechanisms that jurisdictions should consider including in their legal frameworks to give cross-border effect to resolution actions in accordance with the Key Attributes. While emphasising the importance of implementing comprehensive statutory frameworks, these Principles also support contractual approaches to cross-border recognition, which the FSB agreed were critical pending the adoption of such statutory frameworks and which may also complement such regimes once they are in place. This guidance has been developed with a focus on the resolution of banks.