G-SIBs

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Correspondence

GFMA, BPI and IIF Submit Joint Response to BIS regarding Monitoring the Technical Implementation of the FSB TLAC Standard

August 2018  |  Correspondence  |  Press Releases

GFMA, Bank Policy Institute (BPI), and the Institute of International Finance (IIF) provide this joint trades letter in response to the request of the Financial Stability Board (FSB) to submit views on the technical implementation of the FSB’s standard on the adequacy of total loss-absorbing and recapitalization capacity for Global Systemically Important Banks (G-SIBs) in resolution the Total Loss-Absorbing Capacity (TLAC) standard.


GFMA/IIF Final Response to FSB Consultation on Sharing with Non-CMG Host Authorities

May 2015  |  Correspondence  |  Press Releases

GFMA with the Institute of International Finance (IIF) provides comments to the Financial Stability Board (FSB) in response to the FSB consultative document on cross-border recognition of resolution action and on guidance on cooperation and information sharing with host authorities of jurisdictions not represented on CMGs where a G-SIFI has a systemic presence.

GFMA Letter to the Editor-Financial Times: Start by endorsing principle of comity

March 2014  |  Correspondence  |  Press Releases

GFMA Chief Executive Simon Lewis writes to the editors of the Financial Times calling for G20 finance ministers and financial heads of all nations to formally endorse the robust application of the international principle of comity – where the home regulator defers to the host regulator where the latter’s rules are consistent with the G20 recommendations and best practices.

GFMA and Other Associations Submit Comments to the FDIC on the Single Point of Entry Strategy

February 2014  |  Correspondence  |  Press Releases

GFMA, SIFMA, The Clearing House Association L.L.C. (The Clearing House), the American Bankers Association, the Financial Services Roundtable and the Global Financial Markets Association provided comments to the Federal Deposit Insurance Corporation on their notice entitled Resolution of Systemically Important Financial Institutions: The Single Point of Entry Strategy.

The Notice describes the FDIC’s single-point-of-entry (SPOE) recapitalization within resolution strategy for resolving global systemically important banking groups (G-SIBs) with top-tier U.S. parent companies under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and requests comments on certain details and issues regarding how the FDIC would expect to carry out the SPOE Strategy with respect to U.S. G-SIBs.

See also:

78 FR 76614 - RESOLUTION OF SYSTEMICALLY IMPORTANT FINANCIAL INSTITUTIONS: THE SINGLE POINT OF ENTRY STRATEGY

GFMA and Other Associations Submit Comments to the FSB on the FSB G-SIB Common Data Template

October 2013  |  Correspondence  |  Press Releases

GFMA, the Institute of International Finance (IIF), The Clearing House Association L.L.C. (TCH), and the Federation of Finnish Financial Services (FFI) provide comments to the Financial Stability Board (FSB) on the FSB Common Data Template Workshop held 2-3 October 2013, which focused on Phases 2 and 3 of the FSB G-SIB Common Data Template (CDT), organized by the FSB Data Requirements Workstream (DRW).

This letter starts with a reiteration of the major themes the industry raised at the workshop, followed by detailed discussions of our comments on the Phases 2 and 3 templates.

GFMA Submits Comments to the FSB on Resolution Regimes to Non-Bank Financial Institutions

October 2013  |  Correspondence  |  Press Releases

GFMA provides comments to the Financial Stability Board (FSB) responding to the FSB Consultation Document: Application of the Key Attributes of Effective Resolution Regimes to Non-Bank Financial Institutions (Discussion Paper).  

GFMA summarises the key concerns and comments raised by GFMA members with respect to Appendix III of the Discussion Paper entitled “Client asset protection in resolution.”  Specifically, GFMA's comments focus on the definition of client assets and on client asset segregation rather than on resolution tools outlined in the Discussion Paper.

GFMA and Other Associations Submit Comments to the FSB, CPSS and IOSCO on Resolution Regimes and FMIs

October 2013  |  Correspondence  |  Press Releases

GFMA, the International Institute of Finance (IIF), the International Swaps and Derivatives Association, Inc. (ISDA), and The Clearing House (TCH) provide comments to the Financial Stability Board (FSB),  the Committee on Payment and Settlement Systems (CPSS) of the Bank for International Settlements (BIS), and the International Organization for Securities Commissioners (IOSCO) on the FSB Consultation Document: Application of the Key Attributes of Effective Resolution Regimes to Non-Bank Financial Institutions and the CPSS-IOSCO Consultative Report: Recovery of Financial Market Infrastructures (FMIs). 

Effective recovery, continuity and resolution mechanisms for FMIs are critical to the efficient operation and sustainability of the financial markets. It would be difficult, if not impossible, to maintain financial stability if essential services provided by FMI entities were to cease.

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News

GFMA Comment on G-SIFI Resolution paper from US FDIC and Bank of England

14 January 2013   |   News  |  Capital Markets Efficiency and Resiliency

Release Date 10 December 2012  Contact          Andrew DeSouza, +1 (202) 962 7390, adesouza@gfma.org                         James White, +44 (0)20 7743 9367, james.white@gfma.org                        Rebecca Terner, +852 2537 3246, rterner@asifma.org     GFMA comment on G SIFI Resolution paper from US FDIC and Bank of

GFMA Comments on Financial Stability Board’s Policy Measures to Address Systemically Important Financial Institutions

1 February 2012   |   News  |  Capital Markets Efficiency and Resiliency

Release Date November 4, 2011Contact Liz Pierce, 212 313 1173, lpierce@gfma.org     GFMA Comments on the Financial Stability Board’s Policy Measures to Address Systemically Important Financial Institutions  New York, NY, November 4, 2011 – The Global Financial Markets Association (GFMA) today

GFMA Comments on Basel Committee’s Capital Surcharge Proposal

1 February 2012   |   News  |  Capital Markets Efficiency and Resiliency

Release Date August 26, 2011Contact Katrina Cavalli, 212.313.1181, kcavalli@sifma.org   GFMA Comments on Basel Committee’s Capital Surcharge Proposal   New York, NY, August 26, 2011 – The Global Financial Markets Association (GFMA) today announced it has submitted comments to the Basel

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