FSB Publishes 2016 G-SII List
The Financial Stability Board (FSB) today published the 2016 list of global systemically important insurers (G-SIIs).
The FSB, in consultation with the
G-SIIs will be subject to the following internationally agreed standards:
* Higher loss absorbency (HLA), the initial development of which was published by the IAIS in October 2015.2 The HLA requirements, which will be revised to reflect further work by the IAIS on the G-SII assessment methodology, are scheduled to be applied starting from
* Enhanced group-wide supervision, including for the group-wide supervisor to have direct powers over holding companies and to oversee the development and implementation of a Systemic Risk Management Plan and a Liquidity Management Plan.
* Group-wide recovery and resolution planning and regular resolvability assessments. The resolvability of each G-SII is also reviewed in a high-level FSB Resolvability Assessment Process (RAP) by senior regulators within the institution's
The IAIS is continuing work on its methodology and published Global Systemically Important Insurers: Updated Assessment Methodology in
The IAIS is also exploring an activities-based approach to addressing systemic risk as a possible complement to the G-SII entity-based assessment approach. The FSB looks forward to receiving further updates on this work.
30VitinMar-5706209 30VitinMar
Cardinal Dolan Calls for Renewed Fight Against Doctor-Assisted Suicide
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News