FSB updates good practices for G-SIB cross-border crisis preparedness
The Financial Stability Board (FSB) published a revised paper on January 21, 2026, setting out good practices for Crisis Management Groups (CMGs) to enhance preparedness for cross-border financial crises affecting global systemically important banks (G-SIBs). This new version includes a supplementary note on communication with host authorities following 2023 bank failures.
Drawing lessons from past crises
The report details good practices for Crisis Management Groups (CMGs) to improve their readiness for managing and resolving cross-border financial crises involving global systemically important banks (G-SIBs).
It incorporates insights from an FSB stocktake conducted in 2020 and the experiences of CMG members during the COVID-19 pandemic.
The primary focus is on CMG activities that bolster crisis preparedness, rather than on actual crisis cooperation.
This revised version builds upon the original paper published in November 2021 and includes a supplementary note on communication with host authorities following the 2023 bank failures.
16 outcomes for effective CMGs
The identified good practices are structured around 16 desired outcomes that CMGs aim to achieve.
These outcomes cover the structure and operation of CMGs, resolution policy, strategy, and resolvability assessments.
They also address coordination efforts to enhance a firm's resolvability and improve home-host coordination arrangements for crisis preparedness.
A shared understanding of these practices is intended to prevent fragmented approaches and boost the overall effectiveness of CMGs.
The FSB will continue to monitor their evolution and consider future work to promote consistency.