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    FSB Letter Outlines Ongoing and Planned Work in Financial Sector

    April 09, 2019

    FSB published a letter from its Chair Randal K. Quarles to the G20 Finance Ministers and Central Bank Governors, ahead of their meeting in Washington DC. The letter provides an update on the work of FSB and discusses current vulnerabilities in the financial system.

    The letter sets out a number of key themes:

    • Addressing new and emerging vulnerabilities in the financial system—FSB will continue to scan the horizon to identify and assess emerging risks. While the core of the financial system is considerably more resilient than it was a decade ago, potential vulnerabilities in the financial system persist and, in some cases, have built up further. Loosening lending standards, elevated asset values, and high corporate and public debt call for particular vigilance.
    • Finalizing and implementing post-crisis reforms—FSB will work with standard-setting bodies to complete the few remaining reform items. FSB will continue to support full, timely, and consistent implementation of the agreed post-crisis reforms. Work on addressing structural vulnerabilities from asset management activities will continue.
    • Evaluating the effects of reforms—FSB is examining the effects on the financing of small and medium-size enterprises and has just started to evaluate the effects of too-big-to-fail reforms in the banking sector. FSB is exploring issues on market fragmentation, supporting the Japanese G20 Presidency’s priority to address this topic.
    • Reinforcing outreach to stakeholders—FSB remains committed to improve communication and transparency with other external stakeholders, to increase understanding of the FSB’s work, and to facilitate greater input from a wide array of stakeholders.

     

    Related Links

    Keywords: International, Banking, Insurance, Too-Big-to-Fail, Post-Crisis Reforms, G20, FSB

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