BBA has responded to the Financial Stability Board’s (FSB) consultation on making operational the Key Attributes for recovery and resolution planning (RRP). It says triggers should only be an indicator for management to be ready to take action in an escalated way. On its preference for a single-point-of-entry (SPE) or top-down approach to resolution pre-agreed between home and host authorities, BBA clarifies that authorities should also recognise the need to maintain flexibility to respond to changing circumstances. Nonetheless, and SPE approach is preferable to a multiple-point-of-entry one because this latter could risk the creation of fragmented pools of capital and liquidity. (Source: BBA Response to Making the Key Attributes Requirements Operational)