Ten Issues for Supervisors During Crises

Recommendations on how supervisors can address issues arising in in a crisis

The key strategic objectives for supervisors in the current crisis – and in crises generally – are to maintain current and future financial stability and to minimize the impact of the crisis on users of financial services. A prerequisite for this is that supervisory bodies and the firms they supervise are themselves able to function. In conjunction with central banks, finance ministries, and other bodies, supervisors need to fully understand and take the necessary prioritized measures to mitigate the short-, medium-, and long-term effects of what will prove a protracted period of stress.

This Note sets out the main issues that supervisors need to consider in a crisis and offers suggestions for how these might be addressed, both generally and in the current crisis. Most supervisory authorities will already be doing much of this in response to the COVID-19 outbreak. The Note aims to provide a reference point that can be used when taking stock of whether supervisory authorities are doing all the right things, whether they need to do more, or to do some things differently

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