In the immediate aftermath of the crisis, the G20 Leaders established the Financial Stability Board (FSB), building upon its predecessor, the Financial Stability Forum, to promote the repairing of the financial system through a broad agenda of reforms of the international regulatory framework.
Moreover, resolution may also become necessary if participants do not want to use the CCP any longer, and prefer instead to wind it down. Designing effective resolution plans for CCPs is therefore also a key issue. The FSB’s report on Key Attributes of Effective Resolution Regimes for Financial Institutions is an important milestone in this regard.