The report responds to a request from the G20 for an update on progress of the FSB’s ongoing resolution work. The report sets out the policy work that has been undertaken and is underway to develop effective frameworks for handling the failure of systemically important financial institutions. This year’s report also summarises the findings of the first round of the Resolvability Assessment Process (RAP) for global systemically important banks (G-SIBs), and highlights areas where further efforts are needed to improve their resolvability. Preliminary findings from the ongoing FSB peer review of member jurisdictions’ implementation of the Key Attributes resolution regimes indicate that, at present, only a subset of the FSB jurisdictions, mostly G-SIB home jurisdictions, have a bank resolution regime with a range of powers that are broadly in line with the Key Attributes. Reforms to resolution regimes and resolution planning are less advanced for insurers and financial market infrastructures than for banks.