At FSB's meeting on 3 October, it approved policy proposals that will be discussed at the G20 November Summit. The package of proposals covers:
- key attributes of effective resolution regimes for financial institutions;
- a requirement for individual global systemically important institutions (G-SIFIs) to have recovery and resolution plans and for authorities to have co-operation agreements and cross-border crisis management groups;
- setting additional loss absorbency requirements for G-SIFIs;
- enhancing the effectiveness and intensity of supervision, particularly of SIFIs; and
- enhancing international standards for the robustness of core financial market infrastructures.
The meeting also discussed plans to strengthen the oversight and regulation of shadow banking and the second progress report on OTC derivatives reforms. It also approved two IOSCO reports on commodity and securities markets and discussed implementation monitoring of current initiatives. (Source: Results of FSB Meeting)