Featured Product

    G20 Publishes Communiqué on Its February Meeting in Indonesia

    February 18, 2022

    G20 published an official statement, also known as the Communiqué, summarizing developments at the February meeting of the finance ministers and central bank governors in Jakarta, Indonesia. G20 welcomed the work done by international bodies in the areas of financial resilience, central bank digital currencies, sustainable finance instruments, climate-related financial risks, crypto-asset markets, and money laundering and terrorist financing.

    The G20 leaders reaffirmed that they will continue to monitor major global risks, including from geopolitical tensions that are arising, along with the macroeconomic and financial vulnerabilities. G20 reiterated its commitment to strengthen long-term financial resilience of the international financial architecture, including promoting sustainable capital flows and developing local currency capital markets. It will continue its discussion on Central Bank Digital Currencies, to further understand their macro-financial implications for the international monetary and financial system, including for spillovers and capital flows. The Communiqué states that G20 will scale up sustainable finance markets and improve access for countries and firms, including for developing economies and small and medium-size enterprises (SMEs), in an affordable way. G20 will take forward actions of the G20 Sustainable Finance Roadmap, which includes reporting and assessment of priorities set out in the 2022 G20 Sustainable Finance Report. In addition, Sustainable Finance Working Group (SFWG) will develop a voluntary, non-binding policy toolbox highlighting ways to scale up sustainable finance instruments (SFI), in cooperation with other relevant G20 working groups, with a focus on improving accessibility and affordability. Collaboration between the government and authorities will be improved to develop an ecosystem that maintains long-term SFI continuity in the market.

    G20 also addressed work of the Financial Stability Board (FSB) on exit strategies and scarring effects in the financial sector; supported the continued implementation of the G20 Roadmap for Enhancing Cross-Border Payments, including monitoring progress toward the roadmap's quantitative targets; and looks forward to further progress in taking forward the actions of the FSB Roadmap for Addressing Climate-Related Financial Risks. G20 welcomes the FSB's updated assessment of financial stability risks from fast-evolving crypto-asset markets. It encouraged FSB and other standard-setting bodies to monitor and share information on regulatory and supervisory approaches to unbacked crypto-assets, stablecoins, decentralized finance, and other forms of crypto-assets and to address any gaps and arbitrage, including by recommending coordinated and timely policy actions to preserve global financial stability. It also welcomed the continued focus of the Financial Action Taskforce on the risks and opportunities of the digital transformation for preventing and combating money laundering, terrorist financing, and proliferation financing.


    Related Links: 


    Keywords: International, Banking, Sustainable Finance, Climate Change Risk, Crypto Assets, CBDC, ML TF Risk, Stablecoins, Cyber Risk, G20

    Featured Experts
    Related Articles

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News

    DNB Publishes Multiple Reporting Updates for Banks

    DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.

    February 28, 2023 WebPage Regulatory News

    NBB Sets Out Climate Risk Expectations, Issues Reporting Updates

    The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting

    February 24, 2023 WebPage Regulatory News

    EBA Updates Address Securitization Standards and DGS Guidelines

    The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.

    February 21, 2023 WebPage Regulatory News

    FSB Publishes Letter to G20, Sets Out Work Priorities for 2023

    The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023

    February 20, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8793