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February 22, 2011 at 07:00 PM
The International Association of Insurance Supervisors (IAIS) may be close to giving details about preliminary methods for identifying “globally systemically important financial institutions” (G-SIFIs).
The Financial Stability Board (FSB), Basel, Switzerland – talks about progress on efforts to develop a system for identifying G-SIFIs in a report prepared for the Group of 20 Developed Countries (G20) meeting held this past weekend in Paris.
The G20 set up the FSB in the hope that it could help design strategies for increasing the stability of the world financial system. One goal is to give financial companies that are too 
interconnected to fail extra attention. In November 2010, in Seoul, Korea, the G20 leaders said G-SIFIs should have “higher loss absorbency capacity.”
The FSB is supposed to come up with ideas for adding loss absorbency by the end of 2011. The public should get a chance to comment on G-SIFI loss absorbency proposals during the second half of 2011, the FSB says.
By mid-2011, the FSB and national authorities are supposed to decide which institutions may initially be affected by the FSB G-SIFI recommendations, the FSB says.
