Foreword
The Key Attributes of Effective Resolution Regimes for Financial Institutions (the 'Key Attributes' KA) set out the core elements that the FSB considers to be necessary for an effective resolution regime. Their implementation should allow authorities to resolve financial institutions in an orderly manner without taxpayer exposure to loss from solvency support, while maintaining continuity of their vital economic functions.
The FSB adopted the 'Key Attributes' at its Plenary meeting in October 2011. The G20 Heads of States and Government subsequently endorsed the 'Key Attributes' at the Cannes Summit in November 2011 as "a new international standard for resolution regimes" [Communiqué G20 Leaders Summit - Cannes - 3-4 November 2011, Section 13. ].
The Key Attributes set out twelve essential features that should be part of the resolution regimes of all jurisdictions. They relate to: