Global watchdog urges bank emergency funding fixes
The Financial Stability Board urged authorities worldwide to strengthen emergency funding for failing banks after finding major gaps in crisis liquidity. The review follows the 2023 banking turmoil and calls for clear public backstops.
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Fewer than half of global jurisdictions maintain clearly defined emergency funding arrangements for failing banks, according to a peer review published on Friday by the Financial Stability Board. The oversight follows the 2023 banking turmoil that triggered the collapse of Credit Suisse. Global authorities are facing mounting pressure to eliminate crisis-era liquidity gaps.
