Lack of co-ordination of bank resolution regimes behind subsidiarisation push
Asia still behind on global rules forcing subsidiarisation of foreign banks in the region
Asian G-20 member countries have significant ground to cover before being compliant with the global bank resolution regime set out by the Financial Stability Board (FSB), according to a study released jointly by the Asia Securities Industry & Financial Markets Association (Asifma), an industry body, and law firm Clifford Chance on May 13.
The FSB released its Key Attributes of Effective Resolution Regimes for Financial Institutions in November 2011 in order to harmonise efforts at winding up a
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