National authorities should begin to apply phase-in arrangements for the requirements for D-SIBs as of January 2016. See: http://www.financialstabilityboard.org/publications/r_121031ac.pdf. An initial list of global systemically important insurers was published in July 2013. 12  In 2011, the FSB published the “Key Attributes of Effective Resolution Regimes for Financial Institutions”, which set out how authorities could resolve financial institutions in an orderly manner.
4  BIS central bankers’ speeches  important and useful forms of credit intermediation. If they are not properly regulated, however, these activities are subject to the same sort of systemic risks as banks, including contagious runs. The worst example from the crisis was the faulty securitization of U.S. subprime mortgages.