The Single Resolution Board (SRB) and Japan’s Financial Services Agency (FSA) have agreed to cooperate on resolution planning for banks, through an exchange of letters. The letters were signed on 11 October 2019 in Tokyo at the EU-Japan Joint Financial Regulatory Forum, hosted by the FSA and co-organised with the European Commission.
Bilateral cooperation arrangements between resolution authorities are an important ingredient for building resolvability and improving resolution planning. With this agreement, the FSA and the SRB confirm their commitment to strengthening cross-border resolvability by enhancing communication and cooperation, and to work together in planning and conducting orderly cross-border resolutions. The goal is to facilitate the resolution of banks present in the respective jurisdictions while maintaining financial stability in Japan and the European Union.
Find out more about the SRB’s international cooperation agreements here
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