{
  "title": "United Kingdom: Financial Sector Assessment Program-Bank Resolution and Crisis Management-Technical Note",
  "publication": "IMF Staff Country Reports, June 17, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/united-kingdom-financial-sector-assessment-program-bank-resolution-and-crisis-management-43966",
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  "summary": "This paper first describes the architecture for resolution and crisis management. Second, it outlines the resolution policies and operational arrangements currently in place. Third, it discusses the measures taken by the authorities to ensure resolvability.",
  "publishDate": "2016-06-17",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Purpose: Describes the architecture for resolution and crisis management; outlines resolution policies and operational arrangements; discusses measures to ensure resolvability; addresses cross-border cooperation issues in resolution; describes frameworks for resolution funding and deposit insurance.\n- Publication date: June 17, 2016"
    },
    {
      "heading": "Major substantive findings",
      "content": "- The U.K. financial safety net is underpinned by strong institutional arrangements.\n- The financial safety net is made up of:\n  - Her Majesty's Treasury\n  - the Bank of England\n  - the Prudential Regulation Authority\n  - the Financial Conduct Authority\n  - the Financial Services Compensation Scheme\n- Authorities have taken measures to improve resolvability and operational readiness for crisis management."
    },
    {
      "heading": "Analysis themes covered",
      "content": "- Architecture for resolution and crisis management\n- Resolution policies and operational arrangements currently in place\n- Measures taken by the authorities to ensure resolvability\n- Cross-border cooperation issues in resolution\n- Frameworks for resolution funding and deposit insurance"
    },
    {
      "heading": "Policy recommendations and operational guidance",
      "content": "- Authorities are encouraged to continue efforts to operationalize, test, and refine the crisis preparedness framework.\n- Authorities are encouraged to explore mechanisms to make the crisis preparedness framework even more robust."
    },
    {
      "heading": "Subjects and keywords (as used in the document)",
      "content": "- Subjects: Bank resolution, Bank resolution framework, Crisis management, Crisis resolution, Financial crises, Legal support in revenue administration, Revenue administration\n- Keywords: Bank resolution, Bank resolution framework, BoE liquidity support, BoE resolvability power, capital requirement, CR, Crisis management, Crisis resolution, Global, holding company, ISCR, Legal support in revenue administration, liquidity risk management information systems, public funds, risk profile, U.K. authorities, U.K. firm, U.K. G-SIBs, U.K.'s resolution authority\n\nUnited Kingdom: Financial Sector Assessment Program-Bank Resolution and Crisis Management-Technical Note, June 17, 2016.\n\n---\n\n Content in this bundle\n\n- cr16155\n  - cr16155 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr16155 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/united-kingdom-financial-sector-assessment-program-bank-resolution-and-crisis-management-43966"
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    "Published: June 17, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484393338.002",
    "Purpose: Describes the architecture for resolution and crisis management; outlines resolution policies and operational arrangements; discusses measures to ensure resolvability; addresses cross-border cooperation issues in resolution; describes frameworks for resolution funding and deposit insurance.",
    "Publication date: June 17, 2016",
    "The U.K. financial safety net is underpinned by strong institutional arrangements.",
    "The financial safety net is made up of:",
    "Authorities have taken measures to improve resolvability and operational readiness for crisis management.",
    "Architecture for resolution and crisis management",
    "Resolution policies and operational arrangements currently in place",
    "Measures taken by the authorities to ensure resolvability",
    "Cross-border cooperation issues in resolution",
    "Frameworks for resolution funding and deposit insurance",
    "Authorities are encouraged to continue efforts to operationalize, test, and refine the crisis preparedness framework.",
    "Authorities are encouraged to explore mechanisms to make the crisis preparedness framework even more robust.",
    "Subjects: Bank resolution, Bank resolution framework, Crisis management, Crisis resolution, Financial crises, Legal support in revenue administration, Revenue administration",
    "Keywords: Bank resolution, Bank resolution framework, BoE liquidity support, BoE resolvability power, capital requirement, CR, Crisis management, Crisis resolution, Global, holding company, ISCR, Legal support in revenue administration, liquidity risk management information systems, public funds, risk profile, U.K. authorities, U.K. firm, U.K. G-SIBs, U.K.'s resolution authority",
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