U.S., European Officials to Hold Planned Coordination Exercise on Cross-Border Resolution Planning

Senior officials representing resolution authorities in the United States and Europe on Monday will hold the second in an ongoing series of planned exercises to enhance coordination on cross-border resolution.

The discussion exercise will be held on Monday, October 10, and follows a similar exercise conducted by senior officials from the United States and the United Kingdom in 2014.  The exercise is the culmination of planning since late 2015 and builds on ongoing work by the international authorities in the area of cross-border resolution, including a staff-level exercise conducted earlier this year.

The exercise is planned to coincide with the annual international meetings in Washington sponsored by the World Bank and International Monetary Fund. 

The exercise will be hosted by the Federal Deposit Insurance Corporation.  Other expected participants from the United States include senior officials from the Treasury Department, the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Federal Reserve Bank of New York.

Expected participants from Europe include senior officials from HM Treasury, the Bank of England, the U.K. Prudential Regulation Authority, the Single Resolution Board, the European Commission, and the European Central Bank.

Media Contacts:

FDIC - Barbara Hagenbaugh  +1 202-898-7192 -  bhagenbaugh [a] fdic.gov (bhagenbaugh[at]fdic[dot]gov)              

BOE - Fiona Shaikh  +44 207 601 4411 - fiona.shaikh [a] bankofengland.co.uk (fiona[dot]shaikh[at]bankofengland[dot]co[dot]uk)               

SRB  - Camille De Rede  +32 2 490 3530 - Camille.DE-REDE [a] srb.europa.eu (Camille[dot]DE-REDE[at]srb[dot]europa[dot]eu)