1  In November 2011, the Financial Stability Board adopted Key Attributes of Effective Resolution Regimes for Financial Institutions (PDF), a new international standard that sets out the core elements of an effective special resolution regime for systemically significant financial firms.
BIS central bankers’ speeches  1  Stated most pointedly, then, the purpose of a special resolution mechanism for large financial firms is to prevent future situations in which government officials face the unappealing choice they confronted in 2008, to which I alluded a moment ago.