Improving approaches to developing financial stability recovery plans: recommendations and international experience
The Bank of Russia has prepared documents addressing credit institutions’ questions about the development of key elements of financial stability recovery plans (FSRPs) and reviewing examples of international best practice.
‘During the pandemic period, the effectiveness of the anti-crisis management system has become especially important. This is yet another factor encouraging us to improve the approaches to developing and implementing financial stability recovery plans,’ said Deputy Governor of the Bank of Russia Olga Polyakova.
The information letter and recommendations present the Bank of Russia’s opinion on the issues related to the information contained in stress scenarios, measures within FSRPs, indicators of their progress and the specifics of planning, the intensity of stress, the forecast horizon, as well as other topics.
The recommendations are to replace the provisions of the Bank of Russia letter of 2012 and will be used to draft amendments to the regulation stipulating the requirements for the content of FSRPs.
Together with the new recommendations, the Bank of Russia presents the information report reviewing international experience in FSRP development.