Featured Product

    FSB Chair Issues Letter on Implementation of G20 Reforms

    October 13, 2019

    FSB published a letter from the Chair Randal K. Quarles to G20 Finance Ministers and Central Bank Governors, ahead of the meetings in Washington D.C. in October. The letter notes that the development of post-crisis reform policies is nearly complete and implementation is well underway; however, the FSB mission is far from complete. Implementation progress on the agreed G20 reforms remains uneven across key reform areas and FSB is in the process of evaluating that reforms are working as intended. Looking ahead, authorities need to be ready to address the evolving risks to global financial stability, be they related to the current downside risks to growth and uncertainties related to Brexit, or the structural changes in the financial system.

    The letter highlights three areas of the FSB work:

    • Ensuring resilience in the face of new risks. As part of this workstream, FSB is conducting an in-depth analysis of the markets for leveraged loans and collateralized loan obligations. FSB is also assessing the financial stability implications of structural changes in the financial system, including non-bank finance and technological innovation.
    • Addressing potential financial stability issues from global stablecoins. FSB has formed a working group, to inform regulatory policy approaches that harness the benefits of financial innovation, while containing associated risks for the financial system, and to advise on multilateral responses as necessary. FSB will submit a consultative report to the G20 in April and a final report in July 2020.
    • Promoting a financial system that supports strong and sustainable global growth. Following its June report on addressing instances of harmful market fragmentation, FSB has submitted a progress report to the G20 on its further work in this area. FSB is also taking forward its multi-year program of rigorous evaluation of post-crisis reforms. The evaluation of the effects of the reforms on small and medium-size enterprises is nearing completion, while the evaluation of the effects of too-big-to fail reforms for banks is underway.

     

    Related Links

    Keywords: International, Banking, Securities, Post-Crisis Reforms, G20, Financial Stability, Stablecoins, Too Big to Fail, Fintech, FSB

    Featured Experts
    Related Articles
    News

    Regulators Fine Goldman Sachs for Risk Management Failures

    FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).

    October 23, 2020 WebPage Regulatory News
    News

    Canada Hosts International Conference of Banking Supervisors

    BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.

    October 22, 2020 WebPage Regulatory News
    News

    FCA Proposes More Measures to Help Insurance Customers Amid Crisis

    FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.

    October 21, 2020 WebPage Regulatory News
    News

    EBA Issues Opinion to Address Risk Stemming from Legacy Instruments

    EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.

    October 21, 2020 WebPage Regulatory News
    News

    ESRB Publishes Non-Bank Financial Intermediation Risk Monitor for 2020

    ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).

    October 21, 2020 WebPage Regulatory News
    News

    HM Treasury Publishes Policy Statement Amending Benchmarks Regulation

    HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.

    October 21, 2020 WebPage Regulatory News
    News

    APRA Initiates Action Against a Bank for Liquidity Compliance Breach

    APRA announced that it has increased the minimum liquidity requirement of Bendigo and Adelaide Bank for failing to comply with the prudential standard on liquidity.

    October 21, 2020 WebPage Regulatory News
    News

    PRA Consults on Implementation of Certain Provisions of CRD5 and CRR2

    PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).

    October 20, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Rule to Reduce Impact of Large Bank Failures

    US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).

    October 20, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Rule on Net Stable Funding Ratio Requirements

    US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.

    October 20, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6004