The Financial Stability Board launched a consultation on proposed Guidance on continuity of access to financial market infrastructures for a firm in resolution. The FSB's Key Attributes of Effective Resolution Regimes for Financial Institutions provides that resolution authorities should develop resolution strategies and plans for firms that are systemically important. One objective of those plans is to ensure that a firm can maintain its critical functions during resolution. In particular, access to the services that support those functions, including access to services provided by FMIs such as clearing, payment, settlement and custody shared services, should be maintained.

The proposed Guidance is intended to assist national supervisors and resolution authorities to evaluate whether a firm has appropriate arrangements to support continuity of access to critical FMI services in all circumstances. The proposed Guidance covers the arrangements needed to support access to FMIs at the level of providers of critical FMI services, arrangements at the level of the firm and/or FMI participants and the role of FMI supervisors in facilitating continuity of access to critical FMI services. Responses to the consultation are requested by February 10, 2017.

View the consultation paper.