Cross-Border Resolution

 The need for effective cross-border resolution of compromised financial institutions was seen clearly during the 2008 financial crisis.

Global harmonization of recovery and resolution planning documentation, firm-specific cooperation agreements, and robust peer reviews are imperative to the safety and soundness of our markets in the event of a firm failure. GFMA has argued that progress on orderly resolution regimes should reduce the amount of any G-SIB surcharge currently being considered.

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