Guidance on Continuity of Access to Financial Market Infrastructures (FMIs) for a Firm in Resolution
This report sets out guidance on how firms that have entered resolution should continue to have access to financial market infrastructures (FMIs).
A key objective of effective resolution is to maintain the continuity of a firm’s critical functions. This requires a firm in resolution to maintain the continued access to clearing, payment, settlement, custody and other services by FMIs. The guidance sets out arrangements and safeguards to facilitate continuity of access to FMIs for a firm in resolution that apply at the level of the providers of FMI services, at the level of FMI participants and at the level of the relevant resolution and FMI authorities.
The FSB issues the guidance for public consultation in December 2016 and it has been revised in light of the comments received during that consultation.