October 06, 2017

The FSB plenary met in Berlin and reviewed the workplan for the remainder of 2017-18, along with the next steps on evaluation of the effects of the post-crisis reforms. The work coordinated by FSB to agree on the international post-crisis policy reform agenda is nearly complete. Nevertheless, in cases, important policies have yet to be fully operationalized. Monitoring and publicly reporting on member jurisdictions’ implementation of agreed reforms remains a priority.

The following key items in the work program were also discussed:

  • The Plenary agreed that FSB, in coordination with the relevant standard-setting bodies, should evaluate the effects of reforms on financial intermediation. This will be the second evaluation to be launched under the FSB framework. The first evaluation, a review of the incentives for central clearing of over-the-counter derivatives, began in July and will conclude in late 2018. Members discussed progress on this project, which will include a public consultation in mid-2018.
  • The Plenary reviewed the results of a stocktake of existing publicly available regulations and supervisory practices with respect to cyber-security in the financial sector, as well as existing international guidance. The stocktake will be delivered to the G20 meeting in Washington DC next week and published thereafter.
  • The Plenary discussed progress in the development of a toolkit to strengthen governance frameworks to mitigate misconduct risks, which is planned to be published in April 2018. The Plenary approved for publication (shortly) a progress report on reforms to major interest rate benchmarks from the FSB’s Official Sector Steering Group, which was set up to coordinate these reforms.
  • The Plenary received updates on the annual global shadow banking monitoring exercise, the results of which will be published by the end of 2017. FSB also approved the operational arrangements to initiate data collection and aggregation of global securities financing transactions, beginning with the end-2018 data. The detailed reporting guidelines will be published later this year.
  • The Plenary agreed to undertake a review of the jurisdictions represented in FSB’s six Regional Consultative Groups (RCGs). To this end, the RCGs will recommend for Plenary decision, at its next meeting, any changes to the jurisdictions in the RCGs’ membership.

 

Related Link: Press Release (PDF)

Keywords: International, Banking, Insurance, Securities, Workplan Review, Shadow Banking, Post-crisis Reforms, Misconduct Risks, FSB

Related Articles
News

FSB to Evaluate Effects of Too-Big-To-Fail Reforms for Systemic Banks

FSB is seeking feedback as part of its evaluation of the effects of the too-big-to-fail reforms for banks.

May 23, 2019 WebPage Regulatory News
News

APRA Releases Minor Changes to Reporting Standards on SA-CCR for Banks

APRA released minor changes to the three reporting standards for the standardized approach for measuring counterparty credit risk exposures (SA-CCR).

May 22, 2019 WebPage Regulatory News
News

APRA on Industry Self-Assessments into Governance and Accountability

APRA released an information paper analyzing the self-assessments performed by 36 of the country’s largest banks, insurers, and superannuation licensees in response to the final report on the Prudential Inquiry into the Commonwealth Bank of Australia (CBA).

May 22, 2019 WebPage Regulatory News
News

PRA Consults on Maintenance of TMTP Under Solvency II

PRA published a consultation paper (CP11/19) that sets out its approach to update supervisory statement (SS6/16) on maintenance of the transitional measure on technical provisions (TMTP) under Solvency II.

May 22, 2019 WebPage Regulatory News
News

APRA Proposes to Amend Guidance on Residential Mortgage Lending

APRA is consulting on revisions to the prudential practice guide APG 223 on residential mortgage lending in Australia.

May 21, 2019 WebPage Regulatory News
News

IASB Proposes Improvements to IFRS 9 and IFRS 16

IASB published the exposure draft ED 2019/2 that proposes amendments to four IFRS standards, including IFRS 9 on Financial Instruments and IFRS 16 on Leases.

May 21, 2019 WebPage Regulatory News
News

Denis Beau of BDF on Supervisory Priorities for Climate-Change Risks

Denis Beau, the First Deputy Governor of BDF, delivered opening remarks at the BCBS-BSCEE-FSI High-level Meeting for Europe on banking supervision.

May 21, 2019 WebPage Regulatory News
News

ISDA CDM to be Deployed for UK Digital Regulatory Reporting Pilot

ISDA announced deployment of the ISDA Common Domain Model (ISDA CDM 2.0) to support the UK FCA, BoE, and participating financial institutions in testing phase two of the Digital Regulatory Reporting pilot for derivatives.

May 21, 2019 WebPage Regulatory News
News

MAS to Consolidate Regulation of Merchant Banks Under Banking Act

MAS published a consultation paper that proposes to consolidate the regulation of merchant banks under the Banking Act and to move merchant banks to a licensing regime under the MAS Act.

May 21, 2019 WebPage Regulatory News
News

ESAs Amend Technical Standards on Mapping of ECAIs Under CRR

ESAs published a second amendment to the implementing technical standards on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs) for credit risk under the Capital Requirements Regulation (CRR).

May 20, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3118