BIS’s Restoy calls for further action on resolution frameworks
Work on finalising crisis-management framework is not complete, says Financial Stability Institute head
Many jurisdictions still have work to do to implement resolution frameworks, despite progress in recent years, Fernando Restoy said in a speech in early September.
Restoy, who chairs the Financial Stability Institute at the Bank for International Settlements, noted the most recent progress report showed more than half of G20 jurisdictions do not yet have a full set of resolution tools.
“As at last November, almost 60% of those jurisdictions did not have statutory bail-in powers and one-third
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