The WFE appreciates the opportunity to comment on the Financial Stability Board (FSB) Consultation report on Financial Resources and Tools for Central Counterparty Resolution (the Report), and to share perspectives and feedback on behalf of our members. The WFE and its members share the FSB’s goals of ensuring the safety and soundness of the global financial system, which is critical to enhancing investor and consumer confidence. We therefore remain supportive of the broader effort to ensure that the international policy framework best promotes the resilience, recoverability, and resolvability of CCPs in default and non-default loss scenarios.
The WFE has previously publicly expressed support for initiatives that support financial stability led by international standard setters and local regulatory agencies, and has sought to proactively contribute to the discussion on these matters. In doing so, its members have contributed significantly to the strengthening of the broader financial system through engagement with regulators and other stakeholders on the implementation of many post-crisis initiatives.