FSB speech cites gap on resolution funding backstops across 19 jurisdictions
A closing speech at a Berlin conference on deposit insurance and resolution, delivered by an FSB-linked resolution authority chair, sets out where crisis-preparedness frameworks are falling short: perimeter gaps around stablecoins and new payment arrangements, growing operational risk, and unfinished implementation of existing resolution standards. It matters for anyone mapping how regulators are reframing non-bank and operational risk ahead of future rulemaking.
- An FSB peer review (Thematic Review on Public Sector Backstop Funding Mechanisms, October 2026) found only four of 19 jurisdictions assessed fully compliant overall with Key Attribute 6 on funding in resolution.
- The EU Banking Union was not among the jurisdictions found fully compliant, according to the speaker.
- The speaker cites a 20 October disruption linked to a Google Cloud failure in London that affected Revolut's app, card payments, transfers and cash withdrawals alongside services at several other financial institutions.
- The speech references IADI's revised Core Principles 17 and 18, covering cooperation among safety-net participants and cross-border information sharing respectively.
- The Resolution Steering Group recently discussed stablecoin crisis management and responses to operational incidents, the speaker said.