2  BIS central bankers’ speeches    Authorities in several G20 countries are currently working with their credit institutions to develop recovery and resolution plans (RRPs). These efforts are being coordinated by the Financial Stability Board.
Along similar lines, the European Council conclusions of May 10, 2010, relating to crisis prevention, management and resolution contain a requirement that Cross-Border Stability Groups (CBSG) coordinate the drafting of RRPs. 4. The new institutional architecture    In response to the crisis, a new supervisory architecture has been established in Europe.