1. Gibraltar Resolution Planning Framework
Industry Dialogue Workshop: FMI & Critical IT Systems

2. Today’s Content FMI Background FMI Importance to Bank Resolution
Critical IT Systems
Reporting Templates
Questions/Comments
Next Steps
Secure data transfer
GBA update on MREL implementation deadlines

3. Financial Market Infrastructure
A Financial Market Infrastructure (FMI) refers to critically important institutions responsible for providing clearing, settlement and recording of monetary and other financial transactions.
FMIs are key components of the financial system, delivering services central to the smooth functioning of financial markets.
Given their typically large size, lack of substitutability in the markets they serve, and strong connections with banks and other financial institutions, FMIs are generally systemically important. This means they require sound design, and high standards of operational and financial resilience.

4. Access to FMIs: essential for ensuring resolvability…

5. Essential For Resolution

6. Essential For Resolution (ii)

7. Critical Information Systems
A Critical Information System (‘CIS’) shall be understood as an IT application or software unit that provides direct support to the activities carried out by a firm, the disruption of which would present a serious impediment or prevent the performance of a Critical Function alongside, critical services and FMIs.

8. Templates
Information for the purpose of resolution plans under Article 11(3) of Directive 2014/59/EU

9. Questions
Comments
21 February 2018

10. Industry Dialogue Workshops
Content of Resolution Plans: 3rd November
Introduction to MREL and MREL setting: 6th December
Data liquidity template: February 21st 2018
Simplified Obligations: February 28th 2018
Critical Functions/Shared Services: March 21st 2018
FMI’s/Critical IT Systems: May 22nd 2018
What’s Next?
21 February 2018

11. Next Steps
The RCU will discuss any Cross-Border requirements with firms individually (ie with those who have head offices elsewhere within the EU)
RCU to review EBA consultation output
RCU to update Q&A’s from IDW
Firms can begin to prepare for the 2018 implementation of the information templates
The RCU will now begin to work closely with firms on their templates with a proposed draft submission on 31st October – 1 year following the FSRCC Seminar
2018 update seminar proposed to take place in Q4 2018
21 February 2018

12. Secure transfer of Data (Update)
The RCU will be providing the functionality to upload data securely to a protected GFSC Cloud sitting on the GFSC server – it is envisaged that this will replace /data keys etc. going forward.
Long term ‘Data point model’ discussion continue with Invoke (however at early stages due to infancy of new ITS’)
LETS DISCUSS !
21 February 2018