International cooperation in recovery and resolution

Financial markets and many of the players involved are globally orientated. This applies in particular to banks that are designated as global systemically important banks by the Financial Stability Board (FSB). Recovery and resolution planning must take this into account. FINMA works actively together with international bodies and partner authorities.

The Financial Stability Board monitors the global financial system and drafts conceptual and technical papers on the stability of the financial system and crisis planning. In accordance with a methodology of the Basel Committee on Banking Supervision (BCBS), it also identifies global systemically important banks. UBS has been the only Swiss bank on this list since March 2023.

Especially, but not exclusively, for global systemically important banks, insolvency law measures in the context of resolution can only succeed if they are implemented in close coordination with the competent supervisory and resolution authorities of the countries involved. A coordinated approach is also required for financial market infrastructures and large insurance groups that are systemically important in Switzerland and internationally.

FINMA participates in both the BCBS and the FSB, where it is represented in the Resolution Steering Group (ReSG) and the sectoral working groups on crisis intervention. In crisis management groups (CMGs), FINMA exchanges information on crisis prevention and crisis-related cooperation with the main global supervisory and insolvency authorities on a bank-specific basis.