Financial Stability Board Questionnaire on Continuity of Access to FMIs for Firms in Resolution – TARGET2 response
On 6 July 2017 the Financial Stability Board (FSB) published its Guidance on Continuity of Access to Financial Market Infrastructures (FMIs) for a Firm in Resolution, according to which providers of critical FMI services should take appropriate steps to consider and plan for the interaction between the resolution regimes of their FMI service users and their own risk management framework; thereby clarifying the actions they may take in a resolution scenario, to support firms and authorities in enhancing resolution readiness. Since then, the TARGET2 operator has taken measures to reflect the FSB Guidance in the relevant TARGET2 legal and operational documentation.
On 14 August 2020, the FSB published a common template for gathering information about continuity of access to FMIs for firms in resolution with the objective to streamline the provision of information from FMIs to firms and authorities and to reduce the number of inquiries from banks and authorities to FMIs. The template takes the form of a questionnaire that all FMIs are encouraged to complete.
The Eurosystem as the operator of TARGET2 supports this initiative of the FSB. Therefore, you may find the answers to the questionnaire for TARGET2-Bundesbank below this text.
If you have any questions about the general procedure or the answers for TARGET2-Bundesbank, please send us an e-mail.