Implementing Financial Sector Resolution Task Force meeting: Focus on non-bank resolution
Among the many responses to the financial crisis, the most novel so far has been the insistence on creating resolution frameworks for the financial sector. For each bank there must now be detailed recovery and resolution plans readily available. A set of terms and conditions envisaged for the banking sector is now on the table for insurance and market infrastructures like central counter parties (CCPs) as well. During the second Task Force meeting, chaired by Thomas Huertas, the group will discuss the design of this so called non-bank resolution mechanism, emphasising the ways in which the bank resolution mechanism should accommodate the differences between banks and non-bank institutions.