The Basel Committee's Cross-border Bank Resolution Group has developed a set of recommendations that resulted from its stocktaking of legal and policy frameworks for cross-border crises resolutions and its follow-up work to identify the lessons learned from the global financial crisis which began in 2007.
The Basel Committee's recommendations relate to the following areas:
- Recommendation 1: Effective national resolution powers
- Recommendation 2: Frameworks for a coordinated resolution of financial groups
- Recommendation 3: Convergence of national resolution measures
- Recommendation 4: Cross-border effects of national resolution measures
- Recommendation 5: Reduction of complexity and interconnectedness of group structures and operations
- Recommendation 6: Planning in advance for orderly resolution
- Recommendation 7: Cross-border cooperation and information sharing
- Recommendation 8: Strengthening risk mitigation mechanisms
- Recommendation 9: Transfer of contractual relationships
- Recommendation 10: Exit strategies and market discipline
