General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
May 24, 2018

The FSB Secretary General Dietrich Domanski updated the Asia Securities Industry and Financial Markets Association (ASIFMA) Board on key issues that FSB will work on for the remainder of the year. The key focus areas are expected to be disciplined completion of the outstanding financial reform priorities of G20; rigorous evaluation of implemented reforms to ensure that the reform program is efficient, coherent, and effective; and vigilant monitoring to identify, assess, and address new and emerging risks.

To complete the outstanding financial reforms, FSB intends to operationalize the 2017 recommendations to address structural vulnerabilities from asset management. To this end, IOSCO will issue a consultation with proposals for developing comparable leverage measures for funds. Additionally, FSB will deliver, to the Buenos Aires summit, an assessment to determine whether there is a need for any additional guidance on financial resources to support central counterparty (CCP) resolution and on the treatment of CCP equity in resolution.

With respect to the post-implementation evaluation of reforms, two evaluations are currently underway. One is looking at the effects of the reforms on financial intermediation. The other evaluation is on the interaction of reforms on the incentives for market participants to centrally clear over-the counter derivatives. This is taking place in coordination with the relevant standard-setting bodies, particularly the BCBS review of the effects of the leverage ratio on client clearing. In early part of the third quarter, FSB will launch consultations on the two ongoing evaluations of FSB.

FSB will also issue a draft cyber security lexicon, which is meant to support communication between the private sector and authorities by establishing a common language on cyber risks. The periods for the consultations are expected to be short—about a month each—to facilitate completion of this work in time for the G20 Summit. He highlighted that the financial stability implications of technological innovation would be a major area for monitoring emerging risks. Such assessments of vulnerabilities by FSB inform the policy discussions within FSB and the joint early warnings exercise with IMF. He added that he is "keen to hear as active participants in markets what risks you see in the next 12-18 months?"

 

Related Link: Remarks (PDF)

Keywords: International, Banking, Securities, Post Implementation Review, Financial Intermediation, CCP Resolution, Cyber Risk, FSB

Related Articles
News

FDIC Consults on Approach to Resolution Planning for IDIs

FDIC approved an Advance Notice of Proposed Rulemaking (ANPR) and is seeking comment on ways to tailor and improve its rule requiring certain insured depository institutions (IDIs) to submit resolution plans.

April 22, 2019 WebPage Regulatory News
News

EP Resolution on Proposal for Sovereign Bond Backed Securities

The European Parliament (EP) published adopted text on the proposal for a regulation of the European Parliament and of the Council on sovereign bond-backed securities (SBBS).

April 16, 2019 WebPage Regulatory News
News

HKMA Decides to Maintain Countercyclical Capital Buffer at 2.5%

HKMA announced that, in accordance with the Banking (Capital) Rules, the countercyclical capital buffer (CCyB) ratio for Hong Kong remains at 2.5%.

April 16, 2019 WebPage Regulatory News
News

EP Approves Agreement on Package of CRD 5, CRR 2, BRRD 2, and SRMR 2

The European Parliament (EP) approved the final agreement on a package of reforms proposed by EC to strengthen the resilience and resolvability of European banks.

April 16, 2019 WebPage Regulatory News
News

PRA Finalizes Policy on Approach to Managing Climate Change Risks

PRA published the policy statement PS11/19, which contains final supervisory statement (SS3/19) on enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (Appendix).

April 15, 2019 WebPage Regulatory News
News

PRA Seeks Input and Issues Specifications for Insurance Stress Tests

PRA announced that it will conduct an insurance stress test for the largest regulated life and general insurers from July to September 2019.

April 15, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: First Update for April 2019

EBA published answers to nine questions under the Single Rulebook question and answer (Q&A) updates for this week.

April 12, 2019 WebPage Regulatory News
News

FED Updates Form and Supplemental Instructions for FR Y-9C Reporting

FED updated the form and supplemental instructions for FR Y-9C reporting. FR Y-9C is used to collect data from domestic bank holding companies, savings and loan holding companies, U.S intermediate holding companies, and securities holding companies with total consolidated assets of USD 3 billion or more.

April 11, 2019 WebPage Regulatory News
News

EIOPA Statement on Application of Proportionality in SCR Supervision

EIOPA published a supervisory statement on the application of proportionality principle in the supervision of the Solvency Capital Requirement (SCR) calculated in accordance with the standard formula.

April 11, 2019 WebPage Regulatory News
News

ISDA Publishes Statement on FRTB Implementation in Emerging Markets

ISDA published a statement that outlines challenges in implementation of the new Basel III market risk standard for banks in emerging markets.

April 11, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2931