Good Practices for Crisis Management Groups

This report sets out good practices that have helped CMGs to enhance their preparedness for the management and resolution of a cross-border financial crisis affecting a Global Systemically Important Bank (G-SIB) as per the FSB Key Attributes. It draws on a stocktake carried out by the FSB in 2020 and CMG members’ experience during the COVID-19 pandemic.

Its focus is on CMG activities that seek to enhance crisis preparedness rather than on cooperation during an actual itself. The good practices identified in this report are organized along 16 desired outcomes that CMGs seek to achieve and relate to: the structure and operation of CMGs; resolution policy, strategy, and resolvability assessments; coordination on enhancing firm’s resolvability; and enhancing home-host coordination arrangements for crisis preparedness.