Featured Product

    FSB Outlines Upcoming Work Deliverables, Assesses Crypto-Asset Risks

    February 17, 2022

    The Financial Stability Board (FSB) published a report that assesses the financial stability risks posed by crypto-assets. The report examines developments related to crypto-assets as well as the associated vulnerabilities in three segments of crypto-asset markets: unbacked crypto-assets (such as Bitcoin), stablecoins, and decentralized finance/other crypto-asset trading platforms. The report highlights wider public policy concerns related to crypto-assets, such as low levels of investor and consumer understanding of crypto-assets, money laundering, cyber-crime and ransomware. In a separate development, FSB published a letter to the G20 Finance Ministers and Central Bank Governors that lays out the planned policy work during 2022, a large part of which involves addressing climate risks.

    The policy work for the year will involve supporting financial market adjustments to a post-COVID world, reinforcing financial system resilience, harnessing the benefits of digitalization, and addressing financial risks from climate change. The letter presents a complete list of FSB deliverables to the G20 in 2022. By July 2022, FSB plans to deliver the interim report on COVID-19 exit strategies to support equitable recovery for financial stability and scarring effects and the annual progress report on climate roadmap. Then, by October 2022, FSB plans to publish the following:

    • Annual report on promoting global financial stability
    • Final report on COVID-19 exit strategies to support equitable recovery for financial stability and scarring effects
    • Report on policy proposals to address systemic risk in nonbank financial intermediation
    • Best practices for reporting cyber incidents to financial authorities
    • Annual report on implementation of the cross-border payments roadmap
    • Key performance indicators to monitor progress toward the quantitative targets for the cross-border payments roadmap
    • Final report on regulatory and supervisory approaches to addressing climate-related financial risks 
    • Joint report with NGFS on the outputs of climate risk scenario analysis by jurisdictions
    • Progress report on achieving consistent climate-related financial disclosures 
    • Progress report on the regulation, supervision, and oversight of global stablecoins

     

    Related Links

     

    Keywords: International, Banking, Crypto Assets, G20, Stablecoins, Digital Currency, ML TF Risk, Cyber Risk, Covid 19, Climate Change Risk, Financial Stability, Scenario Analyses, Disclosures, ESG, Stress Testing, FSB, Subheadline

    Featured Experts
    Related Articles
    News

    EBA Sets Out Roadmap for 2023, Updates Reporting Framework 3.2

    The European Banking Authority (EBA) published its work program for 2023 as well as the technical package for phase 3 of version 3.2 of its reporting framework.

    September 30, 2022 WebPage Regulatory News
    News

    FED Announces Launch of Climate Scenario Analysis Exercise in 2023

    The Board of Governors of the Federal Reserve System (FED) announced a pilot climate scenario analysis exercise for six largest banks in the U.S.

    September 29, 2022 WebPage Regulatory News
    News

    BIS Paper Studies Impact of Fintech Lending on Small Businesses in US

    The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.

    September 26, 2022 WebPage Regulatory News
    News

    UK Regulators Issue CRR Changes and Stress Test Scenarios for Banks

    The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).

    September 26, 2022 WebPage Regulatory News
    News

    EBA Launches EU-Wide Transparency Exercise in 2022

    The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.

    September 23, 2022 WebPage Regulatory News
    News

    SRB on CRR Quick-Fix to Policy for Multiple Point of Entry Banks

    The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."

    September 22, 2022 WebPage Regulatory News
    News

    EC Rule Lists Advanced Economies for Market Risk Capital Calculations

    The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.

    September 21, 2022 WebPage Regulatory News
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8523