Posted 4/8/2024, 4:33:00 AM
U.S., China Regulators Hold Joint Exercises to Bolster Financial System Resilience
- U.S. and China deepening cooperation on financial stability, have formed a working group
- Group held an exercise recently on dealing with a large bank failure
- Two more exercises planned for April/May on operational resilience risks from disasters, cyberattacks, etc. and insurance impacts of climate change
- Exercises help establish communication channels between regulators and identify risks
- Past exercise did not name specific banks, focused on coordination during stress events
