Nordic Resolution Authorities' joint letter on simplification
The Nordic resolution authorities have jointly sent a letter to the EBA regarding the simplification agenda. The letter emphasizes the need to make the Single Rulebook less complex and more adaptable to the requirements posed by financial stability and operational efficiency. The EBA is encouraged to prioritize simplification, while considering the structural diversity of member states, for which flexibility is essential in ensuring well-functioning resolution regimes. Read the letter here.
Nordic-Baltic Crisis Exercise, 2024
To test preparedness for a potential crisis, authorities from the Nordic-Baltic countries responsible for financial stability conducted a financial crisis simulation in September 2024. The simulation involved three fictional credit institutions with cross-border activities in the Nordic-Baltic region.
Read the report here.