United Kingdom: Financial Sector Assessment Program-Bank Resolution and Crisis Management-Technical Note

June 17, 2016

Preview Citation

Format: Chicago

United Kingdom: Financial Sector Assessment Program-Bank Resolution and Crisis Management-Technical Note, (USA: International Monetary Fund, 2016) accessed December 21, 2024

Summary

This paper first describes the architecture for resolution and crisis management. Second, it outlines the resolution policies and operational arrangements currently in place. Third, it discusses the measures taken by the authorities to ensure resolvability. Fourth, it refers to cross-border cooperation issues in resolution. Finally, it describes frameworks for resolution funding and deposit insurance. The U.K. financial safety net is underpinned by strong institutional arrangements. The financial safety net is made up of Her Majesty's Treasury, the Bank of England, the Prudential Regulation Authority, the Financial Conduct Authority, and the Financial Services Compensation Scheme. The authorities are encouraged to continue their efforts to operationalize, test, and refine the crisis preparedness framework, while exploring mechanisms to make it even more robust.

Subject: Bank resolution, Bank resolution framework, Crisis management, Crisis resolution, Financial crises, Legal support in revenue administration, Revenue administration

Keywords: Bank resolution, Bank resolution framework, BoE liquidity support, BoE resolvability power, Capital requirement, CR, Crisis management, Crisis resolution, Global, Holding company, ISCR, Legal support in revenue administration, Liquidity risk management information systems, Public funds, Risk profile, U.K. authorities, U.K. firm, U.K. G-SIBs, U.K.'s resolution authority

Publication Details

Pages:

45
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/155
Stock No:

1GBREA2016003
ISBN:

9781484393338
ISSN:

1934-7685

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