On November 2nd, the FSB published for comment proposed guidance on recovery and resolution planning for systemically important financial institutions ("SIFIs"). The proposed guidance would assist national authorities in implementing the recovery and resolution planning requirements previously set forth by the FSB and covers recovery triggers and stress scenarios to be used by firms in their recovery planning; the development of resolution strategies and associated operational resolution plans tailored to different group structures; and the identification of the critical functions and supporting services that would need to be maintained in a crisis for reasons of systemic stability. Comments should be submitted on or before December 7, 2012. FSB Press Release.