Featured Product

    FSI Chair Outlines Future Strategy of the Institute

    March 27, 2019

    Fernando Restoy, Chairman of the Financial Stability Institute (FSI) of BIS, spoke at the 20th anniversary conference of FSI. He briefly reviewed key achievements in the FSI history and discussed the ongoing work and the priorities in the years to come. Fernando Restoy highlighted that FSI has been constantly adapting to the needs of the financial supervisory community, with the aim to contribute to the financial stability mission of BIS.

    Mr. Restoy mentioned that financial sector authorities must now pursue a wider range of policy goals. In addition to safeguarding financial stability and market integrity, supervisors are often expected to contribute to other objectives, such as competition, technological innovation, or financial inclusion. All of these add complexity to their role, thus increasing the demand from central banks and supervisory authorities for capacity-building. In this new world, it was felt that there's a need to adjust both the services and products offered by FSI and the way it interacts with its main stakeholders, basically the supervisory community.

    He added that FSI will be guided by the Innovation BIS 2025 Strategy, as approved by the Board of Directors of BIS last November. BIS 2025 provides that the core business of FSI will continue to be support for the implementation of global financial standards and for the adoption of sound policies in the new institutional, regulatory, and technological environment. The following main initiatives are part of the strategy:

    • Playing a more active role in addressing regulatory and supervisory developments related to technology and innovation. To this end, FSI will be creating a repository of technology-related regulatory developments and it will further develop a recently created informal network of experts on enhancing supervisory work through technology.
    • Providing support for financial crisis management through a library of previous crisis episodes and the coordination of exercises that test the performance of existing crisis management frameworks in a cross-border context.
    • Continuing to expand FSI Insights series with new comparative studies on regulatory and supervisory approaches and a special focus on technology and crisis management.
    • Expanding the offering of online training courses to cover more advanced topics and cross-sectoral themes such as fintech and cyber-security.

     

    Related Link: Speech

     

    Keywords: International, Banking, Fintech, Financial Stability, Regulation and Supervision, Crisis Management, FSI, BIS

    Related Articles
    News

    HKMA Finalizes Policy Modules on Group-Wide Approach and Remuneration

    The Hong Kong Monetary Authority (HKMA) revised the Supervisory Policy Manual module CG-5 that sets out guidelines on a sound remuneration system for authorized institutions.

    July 29, 2021 WebPage Regulatory News
    News

    EBA Guide to Monitor Threshold for Intermediate Parent Undertakings

    The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).

    July 28, 2021 WebPage Regulatory News
    News

    PRA Finalizes Approach to Supervision of International Banks

    In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.

    July 26, 2021 WebPage Regulatory News
    News

    FCA Issues PS21/9 on Implementation of Investment Firms Regime

    The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.

    July 26, 2021 WebPage Regulatory News
    News

    EBA Proposes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.

    July 26, 2021 WebPage Regulatory News
    News

    IOSCO Proposes Recommendations on ESG Ratings and Data Providers

    The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.

    July 26, 2021 WebPage Regulatory News
    News

    ESMA Group Issues Recommendations on RFR Switch in Interdealer Market

    The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.

    July 26, 2021 WebPage Regulatory News
    News

    ECB Study Assesses Impact of Basel III Finalization Package

    The European Central Bank (ECB) published a paper as well as an article in the July Macroprudential Bulletin, both of which offer insights on the assessment of the impact of Basel III finalization package on the euro area.

    July 26, 2021 WebPage Regulatory News
    News

    ISDA Finds FRTB Results in Higher Capital Charges for Carbon Trading

    The International Swaps and Derivatives Association (ISDA) published a paper that explores the impact of the Fundamental Review of the Trading Book (FRTB) on the trading of carbon certificates.

    July 26, 2021 WebPage Regulatory News
    News

    PRA Updates Remuneration Policy Statement Templates and Tables

    The Prudential Regulation Authority (PRA) published the remuneration policy self-assessment templates and tables on strengthening accountability.

    July 26, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7311