FSB Tackles CCP Resolvability

Continuing its NBFI work, the FSB today released final CCP-resolution standards.  The standards call on systemic-CCP regulators to have tools and backstops specific to orderly resolution in addition to those deployed to ensure rapid recovery under the FSB’s recent actions addressing margining and CCP liquidity.

FDIC Considers, Tables Passivity Proposals

As anticipated, the FDIC today took up proposals to address concerns regarding index-fund managers’ compliance with passivity commitments.  Surprisingly, there were two competing proposals, both of which were withdrawn prior to a vote.

BIS Head Suggests NBFIs Get a Targeted Global Standard-Setter

BIS General Manager Carstens this week said that there is insufficient global momentum to address the risks posed by NBFIs, asking international bank supervisors to consider the need for a committee akin to Basel for NBFIs.