ASIFMA/Deloitte Comparative Analysis: Prudential Requirements for Climate-related Risks and Stress Testing in Asia Pacific
In response to the 2008 Global Financial Crisis, the Financial Stability Board (“FSB”) established standards to help improve the recoverability and resolvability of global systemically important financial institutions (“G-SIFIs”). The ultimate goal of these standards is to promote soundness and resiliency within the financial sector and ultimately end the perception of a large financial institution being “too big to fail.”