Common use of Coordination of response Clause in Contracts

Coordination of response. The implementation of a response to resolve a distressed institution or broader financial system stress will be coordinated between the members of the Council, where more than one member has responsibility for responding to the situation. Where the Treasurer or the Government makes a decision on a response, the Treasury will inform the other Council members of that decision as early as possible. The members of the Council will work together to implement the Government’s decision. The Council members will keep the Treasurer and the Treasury informed on the progress of the implementation of a response to financial stress.