To inform resolution planning, firms and authorities may have similar information expectations as they engage with Financial Market Infrastructure (FMI) service providers on arrangements and safeguards that would affect the client’s access to FMI services in the run-up to, and during, its resolution. After previous work on a questionnaire for FMIs,1 the Financial Stability Board (FSB) published a Framework for information from FMI Intermediaries to support resolution planning2 (“Framework”), which seeks to help FMI intermediaries better understand which information clients and their resolution authorities (RAs) may need from them. It does so by providing an overview of the baseline information that is potentially relevant for clients and RAs, which they and FMI intermediaries can then discuss, as needed, in their bilateral engagement.
The Framework is one of the outcomes of the FSB’s workshop with industry on continuity of access to FMIs for firms in resolution3 in May 2019, in which stakeholders discussed possible actions that could be taken to assist authorities and firms in implementing the 2017 FSB Guidance on Continuity of Access to Financial Market Infrastructures for a Firm in Resolution (“Guidance”).4 That Guidance sets out arrangements and safeguards to facilitate continuity of access to FMI services for a firm in resolution with a view to maintaining the firm’s critical functions that rely on the continued access to FMI services.
The online survey (18 questions, mostly yes/no and short answers) aims to gather stakeholders’ feedback, from the perspective of FMI service providers, as well as firms subject to a resolution planning requirement and bank resolution authorities (as users of FMI service providers’ responses).
The survey closes on Sunday 9 October at 23:59 CEST. The PDF version of the survey can be used to facilitate the preparation of stakeholders’ answers, but please note that only responses via this online system can be taken into account. Responses will inform the revision of the Framework by FSB member authorities. An anonymised summary of the responses may be published on the FSB website.
1 FSB (2021), Continuity of access to FMIs for firms in resolution – streamlined information collection to support resolution planning (revised version 2021), August.
2 FSB (2021), Continuity of access to FMI services (FMI intermediaries) for firms in resolution: Framework for information from FMI intermediaries to support resolution planning, August.
3 FSB (2019), Industry workshop on continuity of access to FMIs for firms in resolution - Informal Summary of the Workshop, August.
4 FSB (2017), Guidance on Continuity of Access to Financial Market Infrastructures (FMIs) for a Firm in Resolution, July.