6: The Cinderella of regulatory reform? Why cross-border resolution shouldn’t be neglected

Stijn Claessens interviewed by Viv Davies, 16 July 2010Stijn Claessens of the IMF and the University of Amsterdam talks to Viv Davies about the 12th Geneva Report on improving the resolution of systemically important financial institutions (SIFIs). Claessens discusses the trilemma of national authority, financial integration and global stability, and proposes a new concordat approach to the resolution of SIFIs on an international basis that would harmonise resolution with supervision. The view of the Report's authors is that this will help to improve the incentives for collaboration among supervisors and enhance market stability while respecting the sovereignty of individual countries. The interview was recorded on 13 July 2010.