Global watchdog urges authorities to close gaps in emergency funding for failing banks
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Financial Stability Board Flags Weaknesses in Emergency Funding for Failing Banks
The Financial Stability Board is calling on national authorities to strengthen emergency funding arrangements for failing banks after identifying significant gaps in countries’ ability to ... The post Financial Stability Board Flags Weaknesses in Emergency Funding for Failing Banks first appeared on [your]NEWS.
The Financial Stability Board (FSB) has found serious weaknesses in emergency funding mechanisms designed to deal with banking crises, Reuters reports on Friday. The body, which operates under the auspices of the G20, called on member states to strengthen the systems as soon as possible.
Global watchdog urges authorities to close gaps in emergency funding for failing banks
LONDON, Oct 9 (Reuters) - The Financial Stability Board, the global body that monitors risks to the financial system, urged authorities on Friday to strengthen emergency funding arrangements for failing banks after finding major gaps in countries' ab...
The FSB has rated Indonesia "materially non-compliant" in its preparedness for major bank failures. Only four major countries are fully compliant.
A new FSB report reveals that India and Argentina fall short of global standards for emergency liquidity funds for failing banks. Read the full report and its implications for the banking system.
The FSB, the regulatory body for the global financial system, reviewed bank crisis response mechanisms in 19 countries and regions. Only four centers were fully compliant, while serious deficiencies were identified in the others. The agency urged preventative measures to be taken before another bank failure occurs.
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