nout wellink : supervisory arrangements – lessons from the crisis speech by dr nout wellink, president of the netherlands bank and chairman of the basel committee on banking supervision, at the 44th seacen governors ’ conference 2008 “ preserving monetary and financial stability in the new global environment ”, kuala lumpur, 6 february 2009. * * * when former us president bush welcomed g20 world leaders in washington last november to discuss the financial crisis, neither french president sarkozy nor german chancellor merkel had the honour of sitting next to him at the formal dinner. in fact, none of the western leaders had. as a clear display of the shifting balance of economic power, president hu jintao of china and president lula da silva of brazil sat either side of bush. evidently the world economic order is changing. emerging economies are catching up with the developed world at great speed. as a result, preserving monetary and financial stability – the theme of this conference – is an ever more global challenge that requires global cooperation. the financial turmoil has underlined the importance of better coordination among public authorities at the international level. from the start of the crisis in august 2007, central banks across the world have engaged in large - scale coordinated actions to support liquidity conditions in the global money markets. more recently, national governments have acted to shore up the capital base of individual financial institutions. regrettably, but understandably, they did so in a largely uncoordinated way. given the many cross - border externalities that are involved, increased coordination of national measures is clearly desirable, be they capital injections or state guarantees. in spite of authorities ’ efforts, uncertainty in the financial markets remains unusually high, and stabilizing financial systems is still our top priority. nonetheless, it is not too soon to think about how we can prevent and mitigate future financial crises. indeed, in light of weaknesses revealed by the financial crisis, the basel committee has developed a series of proposed enhancements to strengthen the basel ii framework. these enhancements will help ensure that banks ’ risks, whether on - or off - balance sheet, are better reflected in minimum capital requirements, risk management practices and disclosures to the public. another issue the committee is currently addressing is procyclicality, or the possibility that regulatory requirements amplify an economic cycle. this is a difficult issue as there are a variety of factors at play – such as loan loss provisioning – that influence procyclicality. and, we should

fout! onbekende naam voor documenteigenschap. progress on the resolvability of gsibs – the fsb perspective speech by klaas knot at the 2nd srm - ebf boardroom dialogue brussels, 5 july 2019 at the second srm - ebf boardroom dialogue, klaas knot gave a speech in which he described the efforts in making banks resolvable. he also mentioned areas of concern for the coming years : trends and priorities for achieving resolvability. fout! onbekende naam voor documenteigenschap. let me start by saying that i am here in two capacities, wearing two hats as it were. i am here both as vice - chair of the financial stability board, the fsb, and as president of the dutch central bank. for this speech i will be wearing my fsb - hat. as you may know, the fsb has actually been the instigator of many of the reforms and policy initiatives on bank resolution, including the topics being discussed today. with the development of the key attributes for effective resolution regimes in 2011, the fsb created the blueprint for the european resolution framework. this was followed by the tlac standard for setting loss absorbing capacity for g - sibs. so far, this is the only international standard developed by the fsb. other guidance developed by the fsb covers topics such as bail - in, funding in resolution and operational continuity. in this speech i will be taking the view of an fsb representative with a keen interest in making banks resolvable. this view should provide insight into the trends and priorities for achieving resolvability. hopefully it will also guide your own efforts, as you work together with the srb on topics such as : completing resolution plans, implementing tlac and modelling funding in resolution. and even though the fsb focuses on policy development for g - sibs, i think these topics are equally relevant for other banks. resolution planning and achieving resolvability i will start with resolution planning and achieving resolvability, the topic you discussed before lunch. in my view resolution planning has always been a means to an end. it is about getting a deep understanding of how a bank is organized and functions. it is about asking fundamental questions on what functions need to be continued and how to achieve this. resolution planning forces authorities to consider all these aspects and it focuses the mind