Another challenge is that of cross-border resolutions, and the FSB has undertaken analytic work on how to improve the resolvability of  BIS central bankers’ speeches  3  financial firms that have a substantial international presence. The FSB has also identified and spurred cooperative work on gaps in financial data and on the so-called shadow banking system.
As a bank supervisor, the Federal Reserve has cooperated with foreign bank supervisors (including other central banks) through participation in supervisory colleges, which are multilateral standing working groups of supervisors formed for the purpose of enhancing effective consolidated supervision of an international banking organization.