Featured Product

    FSB Issues Summary of its Plenary Meeting in June

    June 25, 2018

    The FSB Plenary met in Basel to discuss risks and vulnerabilities from market developments in the global financial system and progress against its 2018 workplan for delivery to the Argentine G20 Summit in November. Plenary members noted the considerable progress made over the last decade in strengthening the resilience of the financial system, but stressed the importance of monitoring financial markets during the transition away from a very low interest rate environment.

    The key highlights of the meeting are as follows:

    • The Plenary discussed progress on crypto-assets deliverables and agreed on a framework to monitor potential emerging financial stability risks of crypto-assets. Members also received an update on the ongoing work by BCBS, CPMI, and IOSCO on their work on crypto-assets, including monitoring bank exposures, work on applications of the underlying technologies and use in payments, and considering issues stemming from initial coin offerings and crypto-asset exchanges that could impact investor or consumer protection. FSB will publish a summary of its work and that of the standard-setting bodies on crypto-assets, ahead of the July meeting of G20 Finance Ministers and Central Bank Governors.
    • The Plenary approved for publication, in July, a consultation paper on the common cyber lexicon that FSB has developed. The cyber lexicon is intended to support FSB, standard-setting bodies, authorities, and private-sector participants in addressing cyber security issues and enhancing cyber resilience in the financial sector.
    • FSB discussed preliminary results from two ongoing evaluations of the effects of reforms: on the financing of infrastructure investment and on the incentives to centrally clear over-the-counter derivatives. Public consultations on both evaluations will be issued in the next two months. The final reports will be delivered to the G20 Leaders’ Summit and published in November. Two other evaluations agreed on by FSB will be launched in the coming months. These are an evaluation of the effects of reforms on the financing of small and medium-size enterprises, which will be delivered under the Japanese G20 Presidency, along with an evaluation of the effects of policies to address too-big-to-fail, which will be completed in 2020.
    • IOSCO updated the Plenary on its work to develop consistent leverage measures for investment funds, as part of its work to implement the FSB policy recommendations on structural vulnerabilities from asset management activities. IOSCO plans to publish the consultative document on funds’ leverage measures in the autumn.
    • To ensure effective engagement with non-FSB jurisdictions, the Plenary, at its October 2017 meeting, had asked each of the six FSB Regional Consultative Groups (RCGs) to consider whether to recommend any changes to the jurisdictions in their membership. Based on recommendations from RCGs, the Plenary has agreed to invite several new jurisdictions to join the RCGs.
    • The Plenary received an update on the ongoing work of the Task Force on Climate-Related Financial Disclosures (TCFD) to promote and monitor adoption of its voluntary recommendations to companies for effective disclosure of climate-related financial risks. The TCFD will publish its monitoring report in September.

     

    Related Link: Summary of Plenary Meeting

    Keywords: International, Banking, Securities, TCFD, FinTech, Implementation Monitoring, Shadow Banking, FSB

    Related Articles
    News

    EBA Single Rulebook Q&A: Second Update for November 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to eight questions that relate to the Bank Resolution and Recovery Directive (BRRD) and the Capital Requirements Regulation and Directive (CRR and CRD).

    November 15, 2019 WebPage Regulatory News
    News

    HKMA Announces Finalization of Banking Liquidity Amendment Rules 2019

    HKMA issued a letter informing all authorized institutions that negative vetting of the Banking (Liquidity) (Amendment) Rules 2019 (BLAR) has now expired. Thus, the BLAR will now come into operation from January 01, 2020.

    November 15, 2019 WebPage Regulatory News
    News

    ESMA Updates Q&A on Securitization Regulation in November 2019

    ESMA updated questions and answers (Q&A) on the Securitization Regulation (Regulation 2017/2402).

    November 15, 2019 WebPage Regulatory News
    News

    FASB Delays Effective Dates for CECL, Leases, and Hedging Standards

    FASB issued two Accounting Standards Updates finalizing the delays in effective dates for standards on current expected credit losses (CECL), leases, hedging, and long-duration insurance contracts.

    November 15, 2019 WebPage Regulatory News
    News

    BCBS Consults on Revised Disclosures for Market Risk Framework

    BCBS launched a consultation on the revised disclosure requirements for the market risk framework for banks.

    November 14, 2019 WebPage Regulatory News
    News

    BCBS Consults on Disclosure Templates of Sovereign Exposures of Banks

    BCBS published a consultation on the voluntary disclosure templates related to sovereign exposures of banks.

    November 14, 2019 WebPage Regulatory News
    News

    PRA Publishes Final Policy on Maintenance of TMTP Under Solvency II

    PRA published the policy statement (PS25/19) that contains the final supervisory statement (SS6/16) on maintenance of the transitional measure on technical provisions (TMTPs) under Solvency II.

    November 14, 2019 WebPage Regulatory News
    News

    FSB Examines Implementation of Resolution Regimes in Financial Sector

    FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions and sets out plans for further work.

    November 14, 2019 WebPage Regulatory News
    News

    IAIS Adopts ComFrame, ICS, and Holistic Framework for Systemic Risk

    IAIS adopted a comprehensive set of reforms—Common Framework (ComFrame), Insurance Capital Standard (ICS) Version 2.0, and Holistic Framework for Systemic Risk—that will enable effective cross-border supervision of insurance groups and contribute to global financial stability.

    November 14, 2019 WebPage Regulatory News
    News

    PRA Publishes Templates for Statistical Disclosures Under Solvency II

    PRA published templates for statistical disclosures, as required under Article 31(2) of the Solvency II Directive.

    November 14, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4157