Report and recommendations of Cross-border Bank Resolution Group issued by Basel Committee

by Sabrina I. Pacifici on September 17, 2009

17 September 2009 – “The Basel Committee on Banking Supervision today issued for consultation the Report and recommendations of the Cross-border Bank Resolution Group. Mr Nout Wellink, Chairman of the Basel Committee and President of the Netherlands Bank, noted that “the recommendations seek to promote more orderly resolution of cross-border banks to reduce systemic risk and help address the too-big-to-fail problem”. Building on the lessons of the crisis and a series of case studies, the report sets out 10 recommendations to improve the resolution of a failing financial institution that has cross-border activities.”

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