BIS: Institutional Arrangements For Bank Resolution
Date
The Financial Stability Board's
Key Attributes of Effective Resolution Regimes for Financial Institutions, adopted in response to the Great Financial Crisis, is the global standard for bank resolution frameworks.
Core to the institutional arrangements for resolution specified by the Key Attributes is an administrative resolution authority that is operationally independent. Irrespective of where resolution functions are located – eg within the central bank, the supervisory authority or the deposit insurer – there should be governance arrangements and mechanisms to control any conflicts of interest that arise between resolution and other functions carried out by that authority.