Resolution of CCPs: FSB reports on progress and consults on resolution planning

The FSB has published a progress report on its workplan with the Basel Committee on Banking Supervision (BCBS), Committee on Payments and Market Infrastructures (CPMI), and the International Organization of Securities Commissions (IOSCO) to address risks posed by CCPs. The workplan, agreed in April 2015, coordinates international policy work aimed at enhancing the resilience, recovery planning and resolvability of CCPs, focusing on CCPs that are systemic across multiple jurisdictions. This report updates the FSB's progress report published in September 2015.

The FSB has also published a discussion note seeking comments on aspects of CCP resolution planning, including:

• timing of entry into resolution;
• adequacy of financial resources;
• tools for returning to a matched book and allocating default and non-default losses;
• application of the No Creditor Worse Off safeguard and treatment of the CCP's equity in resolution; and
• cross-border operation and effectiveness of resolution actions.

Comments to the discussion note close on 17 October 2016.