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Response given to FSB critical functions consultation

Insurance Europe has responded to a Financial Stability Board (FSB) consultation on the identification of critical functions and critical shared-services in the context of recovery and resolution planning for systemically important insurers.

Insurance Europe supports the FSB’s encouragement of cross-border supervisory co-operation on resolution and its work to develop a common understanding of critical functions.

But in its response, Insurance Europe also noted that critical functions should be identified exclusively according to their potential ability to materially affect the financial system and the real economy.

Published 12 December 2014
Contacts
Nicolas Jeanmart
Nicolas Jeanmart
Head of personal insurance, general insurance & macroeconomics
Alexandru Ciungu
Alexandru Ciungu
Policy advisor, macroeconomics & taxation