Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Press Release

Principals of U.S., European Banking Union, and U.K. Financial Authorities Meet for Regular Coordination Exercise on Cross-Border Resolution Planning

WASHINGTON – The heads of resolution, regulatory and supervisory authorities, central banks, and finance ministries of the United States, the United Kingdom, and the European Banking Union are among leaders participating in a Trilateral Principal Level Exercise (TPLE) on Saturday, April 20, 2024. 

The meeting is part of a series of regular exercises and exchanges among the principals of these key financial sector authorities. The intent is to enhance understanding of each jurisdiction’s resolution regime for global systemically important banks (G-SIBs), strengthen coordination on cross-border resolution, and promote confidence in and commitment to the orderly resolution of G-SIBs.

The 2024 TPLE builds on a series of such exercises going back to 2014, with the European Banking Union authorities joining in 2016. The exercise coincides with the spring meetings in Washington, D.C. sponsored by the World Bank and International Monetary Fund. The 2024 TPLE will draw on cross-border cooperation processes developed to operationalize international standards applicable to G-SIBs and lessons learned from the 2023 failures of large banks in multiple jurisdictions.  

The Federal Deposit Insurance Corporation (FDIC) will host the TPLE. Participants from the U.S. include principals from: the Department of the Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the FDIC, the Securities and Exchange Commission, the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau, and the Commodity Futures Trading Commission.

Participants from the European Banking Union include principals from: the Single Resolution Board, the European Commission, and the European Central Bank.

Participants from the United Kingdom include principals from His Majesty’s Treasury and the Bank of England.

PR-25-2024

Last Updated: April 24, 2024