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Policy on Resolution Framework 2.0 for COVID-19 Related Financial Stress on Borrowed Accounts of Individuals, Small Businesses and MSMEsHistory of Revisions Version 1.0Summary of Revisions Policy
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01
Identify the purpose of the policy on resolution framework.
02
Determine the scope of the policy and what it will cover.
03
Define the roles and responsibilities of all relevant stakeholders involved in the resolution process.
04
Outline the procedures for handling different types of resolution framework scenarios.
05
Include details on communication protocols and reporting requirements during the resolution process.
06
Establish criteria for evaluating the effectiveness of the resolution framework policy.
07
Review and update the policy regularly to ensure it remains current and relevant.

Who needs policy on resolution framework?

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Risk management professionals
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Policy on resolution framework is a set of guidelines and procedures established by a company to address financial distress and ensure timely resolution.
Financial institutions such as banks, insurance companies, and other regulated entities are required to file policy on resolution framework.
Policy on resolution framework can be filled out by detailing the organization's strategies for handling financial distress, defining resolution triggers, assigning responsibilities, and outlining communication protocols.
The purpose of policy on resolution framework is to maintain financial stability, protect stakeholders' interests, and facilitate efficient resolution of financial distress.
Information such as resolution strategies, trigger points, governance structure, communication protocols, and escalation procedures must be reported on policy on resolution framework.
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