On January 22, Rebecca Simmons participated as a panelist at an industry meeting convened by the FSB to discuss central counterparty (CCP) resolution and on the treatment of CCP equity in resolution. This FSB committee, made up of representatives of resolution authorities from the member jurisdictions of the Financial Stability Board, is developing principles to govern the resolution of derivatives central counterparties in the event of their failure, and has convened a series of panels to receive input from industry representatives as to the impact of the alternatives under consideration.