Financial Stability Board Resolution Steering Group chair calls for cross sector crisis readiness at ReSolve event

In opening remarks to the Financial Stability Board's 2026 ReSolve event, the chair of the FSB Resolution Steering Group used the forum to push for a more cross-sector approach to crisis management and resolution preparedness. The remarks framed the event as the first gathering in which resolution authorities and Cross-Border Crisis Management groups from banking, insurance and central counterparties meet in a genuinely cross-sector setting, with the aim of understanding how stress and resolution actions in one part of the financial system can spill over into others. The speaker argued that increasing interconnectedness means crisis planning cannot remain siloed by sector or jurisdiction, and raised the need to examine whether the resolution of a bank could put an insurer or central counterparty under stress, or whether distress at an insurer or financial market infrastructure could have unintended consequences for banks. The remarks pointed to the 2008 crisis and the rescue of AIG as examples of how contagion can move across sectors and borders. They also stressed that legal frameworks and policy standards are not enough on their own, and that credible resolution depends on operational readiness such as resolvability assessments, stronger operational capabilities, removal of impediments and cross-border exercises. Over the two-day event, participants were encouraged to compare practical experience across sectors, test assumptions and identify gaps in preparedness. The remarks presented that work as part of implementing the FSB's international resolution standards in operational terms rather than announcing any new policy measures.