This summary terms of reference provides details about the objectives, scope and process of the FSB’s evaluation of too-big-to-fail (TBTF) reforms. The evaluation will assess whether the implemented reforms are reducing the systemic and moral hazard risks associated with systemically important banks (SIBs). It will also examine the broader effects of the reforms to address TBTF for SIBs on the overall functioning of the financial system.

Stakeholder outreach will be an important aspect of the evaluation, including through workshops to exchange views with relevant stakeholders on this topic and through this call for public feedback.

Feedback, including evidence in support of the responses, should be submitted by 21 June 2019 to [email protected] under the subject heading “TBTF evaluation”. Responses will be published on the FSB’s website unless respondents expressly request otherwise. The feedback will be considered by the FSB as it prepares the draft report, which will be issued for public consultation in June 2020. The final report will be published in late 2020.