The Financial Stability Board (FSB) set out its work program, providing an indicative timeline of the key deliverables for 2022.
The work program addresses the expected initiatives and work priorities, continuation and completion of ongoing financial stability work, and regular monitoring and reporting of financial stability issues. Key deliverables for 2022 and their timelines are presented below:
- April: Consultative report on identification of regulatory and supervisory approaches to addressing climate-related financial risks (G20 deliverable)
- July: Annual progress report on climate roadmap (G20 Deliverable), report on climate-related vulnerabilities and their monitoring, and report on the use of scenario analysis for climate-related risks
- October (G20 deliverables for November Summit): Final report on COVID-19 exit strategies to support equitable recovery for financial stability and scarring effects, report with main findings of nonbank financial intermediation (NBFI) initiatives and policy proposals to address systemic risk in NBFI, consultative document on achieving greater convergence for reporting cyber incidents to financial authorities, final report on regulatory and supervisory approaches to addressing climate-related financial risks, report (jointly with NGFS) on the outputs of scenario analysis by jurisdictions, report on progress in achieving consistent climate-related financial disclosures, and progress report on the regulation, supervision, and oversight of global stablecoins
- November: Identification of global systemically important banks (G-SIBs) for 2022 and progress report on benchmark transition (2022, H2)
- December: Global Monitoring Report on NBFI
Keywords: International, Banking, Insurance, Securities, Reporting, Financial Stability, Covid-19, NBFI, Systemic Risk, Cryptoassets, Decentralized Finance, Climate Change Risk, ESG, Disclosures, NGFS, Cyber Risk, Operational Resilience, Fintech, G20, FSB
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The Australian Prudential Regulation Authority (APRA) has published the findings of its latest climate risk self-assessment survey conducted across the banking, insurance, and superannuation industries.
The French Prudential Supervisory Authority (ACPR) published a notice related to the methods for calculating and publishing prudential ratios under the Capital Requirements Directive (CRD IV) and the minimum requirement for own funds and eligible liabilities (MREL).
The Financial Stability Institute (FSI) of the Bank for International Settlements recently published a paper proposing a framework for classifying financial stability regulation as either entity-based or activity-based.
The European Insurance and Occupational Pension Authority (EIOPA) published the risk dashboard based on Solvency II data and the final version of the application guidance on climate change materiality assessments and climate change scenarios in the Own Risk and Solvency Assessment (ORSA).
The European Banking Authority (EBA) and the European Central Bank (ECB) published their responses to the consultations of the International Sustainability Standards Board (ISSB) and the European Financial Reporting Advisory Group (EFRAG) on sustainability-related disclosure standards.
A Consultative Group on Risk Management (CGRM) at the Bank for International Settlements (BIS) published a report that examines incorporation of climate risks into the international reserve management framework.
The European Banking Authority (EBA) published the final guidelines on liquidity requirements exemption for investment firms, updated version of its 5.2 filing rules document for supervisory reporting, and Single Rulebook Question and Answer (Q&A) updates in July 2022.
The European Insurance and Occupational Pensions Authority (EIOPA) published Version 2.8.0 of the Solvency II data point model (DPM) and XBRL taxonomy.
The European Union published, in the Official Journal of the European Union, an opinion from the European Economic and Social Committee (EESC); the opinion is on the proposal for a regulation to amend the Capital Requirements Regulation (CRR).
HM Treasury published a draft statutory instrument titled “The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2022,” along with the related explanatory memorandum and impact assessment.