Understanding the resolution regimes for global systemically important banks (GSIBs) of U.S., U.K. and European regulators, and strengthening their coordination, is the focus of an April 13 meeting and exercises announced Tuesday by the regulators.
In a release, the Federal Deposit Insurance Corp. (FDIC) said the one-day meeting is part of a series of planned exercises to build “cross-border resolution” understanding about the GSIBs resolution regimes. The FDIC said the meeting this week builds on exercises held in 2014 and 2016, and coincides with the annual international meetings in Washington sponsored by the World Bank and International Monetary Fund (IMF).
The FDIC said it would host the exercises, along with officials from the Treasury Department, the Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Federal Reserve Bank of New York.
The FDIC said it also expected participation from officials from the EU and UK as well.