“The report reflects the progress being made in the area of cross-border bank resolution since the Basel Committee published a set of ten recommendations in March 2010. The report also responds to the Financial Stability Board November 2010 recommendations on systemically important financial institutions for an assessment of the legislative and other changes to national regimes and policies needed to accomplish effective resolution of systemically important financial institutions….The Committee’s report stresses the need to accelerate reforms of domestic resolution regimes and tools and of frameworks for cross-border enforcement of resolution actions.”
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