New tools such as “living wills” and “bail-in bonds” are being used to enhance the likelihood of an ailing bank’s survival. Statutory management powers are being strengthened and new resolution structures such as bridge banks are being established to facilitate the orderly resolution of failing banks without recourse to government funds.
Coordination among the authorities remains a powerful tool to increase the effectiveness of AML/CFT endeavours, and in the area of education, it creates a ripple effect as knowledge and experience are shared among supervisors. Since February 2021, the ICC has conducted 10 AML/CFT outreach and training programmes.