WASHINGTON — Senior officials from the central banks and treasuries of the United States, the United Kingdom and the European Union will convene at the Federal Deposit Insurance Commission offices in Washington on Saturday to conduct a war game simulating the collapse of a globally important bank. The closed-door desktop stress test is designed to rehearse a coordinated response to a Lehman Brothers-style failure.

Participants are expected to include senior officials from the U.S. Federal Reserve, the European Central Bank, and the Bank of England, including its governor Andrew Bailey. The Federal Deposit Insurance Commission described the event as a "trilateral principal level exercise" and said the meeting would be used to coordinate how multiple regulators would respond to the collapse of a global bank. Officials from the U.S., UK and EU are expected to stay in Washington after the International Monetary Fund and World Bank spring meetings to take part in the exercise.

"These exercises enhance understanding of each jurisdiction's resolution regime for global systemically important banks (G-SIBs), strengthen coordination on cross-border resolution, and promote confidence in and commitment to the orderly resolution of G-SIBs," the Federal Deposit Insurance Commission said.

The agency did not disclose the details of its stress test or whether it included an assessment of cyber risks. Regulators have conducted similar stress-testing exercises since the collapse of Lehman Brothers in the 2008 financial crisis to prevent a repeat of a major bank failure.

Finance ministers, executives and regulators gathered in Washington for the IMF and World Bank spring meetings to discuss potential risks to the financial system.

Banking regulators from around the world have expressed concern about risks to financial stability from artificial intelligence, risky private credit lending, and potential disruption linked to the U.S.-Israel war on Iran. Officials attending the spring meetings warned that AI models from U.S. tech companies could pose threats to financial stability.

"It is a very serious challenge for all of us. It reminds us how fast the AI world moves," Bailey said.