A regular coordination exercise on cross-border resolution planning will be hosted by the federal bank deposit insurer on April 18, the agency said Tuesday.
The heads of resolution and regulatory authorities, central banks, and finance ministries of the United States, the European Banking Union, and the United Kingdom are among leaders that will participate in a Trilateral Principal Level Exercise (TPLE), the Federal Deposit Insurance Corp. (FDIC) said its announcement.
“The meeting is the latest in a series of regular exercises and exchanges among the principals of these key financial sector authorities,” the agency said. “These exercises enhance understanding of each jurisdiction’s resolution regime for global systemically important banks (G-SIBs), strengthen coordination on cross-border resolution, and promote confidence in and commitment to the orderly resolution of G-SIBs.”
Participants include:
- From the United States, principals and senior officials from the Department of the Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the FDIC, the Securities and Exchange Commission, and the Commodity Futures Trading Commission.
- From the European Banking Union, principals and senior officials from the Single Resolution Board, the European Commission, and the European Central Bank.
- From the United Kingdom, principals and senior officials from His Majesty’s Treasury and the Bank of England.
The exercise coincides with the spring meetings in Washington sponsored by the World Bank Group and the International Monetary Fund, the FDIC said.
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