FSB published a letter that its Chair Mark Carney sent to the G20 Finance Ministers and Central Bank Governors, ahead of their meeting in Buenos Aires on March 19-20. The letter sets out the priorities of FSB under the Argentine Presidency. An annex to the letter contains a table listing priority G20 deliverables, along with their expected timelines, from FSB during the Argentine G20 Presidency.
During the course of the year, the deliverables to G20 will include the following areas:
- Correspondent banking Action Plan, including improving the access of remittance providers to banking services
- A toolkit for firms and supervisors on the use governance frameworks to reduce misconduct in the financial sector
- Leverage measures for investment funds to support resilient market-based finance
- Guidance on financial resources available to support central counterparty (CCP) resolution to deliver resilient and resolvable CCPs
- Cyber security lexicon to support consistency in the work of the FSB, standard-setting bodies, authorities, and private-sector participants
- Private-sector-led Task Force on Climate-related Financial Disclosures’ report on voluntary implementation of its recommendations to highlight good practice and foster wider adoption
Keywords: International, Securities, G20, Priorities, Financial Stability, Shadow Banking, Correspondent Banking, CCP Resolution, FSB
Previous ArticleUS Agencies Submit Reporting Form FFIEC 016 to OMB for Review
BoE updated the known issues document for the statistical reporting Forms AS and FV.
EBA updated the report on the implementation of selected COVID-19 policies.
OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.
HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.
FASB issued a new Accounting Standards Update (2020-06) to improve financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity.