Financial Stability Board (FSB) approval of an NPL resolution strategy. In consultation with other relevant ministries, the FSB will first establish a working group, and that group will: (i) identify and analyze impediments to debt resolution, in particular related to insolvency and enforcement laws, taxation issues, and legal and regulatory obstacles to NPL sales and outsourcing; and (ii) develop an NPL resolution strategy including milestones and a timetable for removal of identified impediments.
Introduced at R0. Content is modified at R1R2 to "Financial Stability Council (FSC) finalization and publication of an NPL resolution strategy."