Recovery and Resolution Planning: Making the Key ...

Recovery and Resolution Planning: Making the Key Attributes Requirements Operational Consultative Document November 2012 2 3 Introduction At the Cannes Summit in November 2011, the G20 Leaders endorsed the Key Attributes of Effective Resolution Regimes for Financial Institutions ( the Key Attributes ) as the international standard for Resolution regimes, following a public consultation The Key Attributes call on jurisdictions, among other things, to put in place an on-going Recovery and Resolution planning process to reduce the potential for failure and promote resolvability as part of the overall supervisory process. Such a planning process is required for all global systemically important financial institutions (G-SIFIs) and for any other firm assessed by national authorities as potentially having an impact on financial stability in the event of its Reforms are now underway in many jurisdictions to align national Resolution regimes and institutional frameworks more closely with the Key Attributes.

Key Attributes to insurers, including any that might be designated as global systemically important insurers (G-SIIs), after which the need for guidance on the implementation of recovery and resolution planning requirements will be considered.

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  Insurer, Global, Important, Systemically, Global systemically important insurers

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