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

    ISSB Sustainability Standards Expected to Become Global Baseline

    The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.

    September 18, 2023 WebPage Regulatory News
    News

    IOSCO, BIS, and FSB to Intensify Focus on Decentralized Finance

    Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.

    September 18, 2023 WebPage Regulatory News
    News

    BCBS Assesses NSFR and Large Exposures Rules in US

    The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.

    September 14, 2023 WebPage Regulatory News
    News

    Global Agencies Focus on ESG Data, Climate Litigation and Nature Risks

    At the global level, supervisory efforts are increasingly focused on addressing climate risks via better quality data and innovative use of technologies such as generative artificial intelligence (AI) and blockchain.

    September 14, 2023 WebPage Regulatory News
    News

    ISSB Standards Shine Spotlight on Comparability of ESG Disclosures

    The finalization of the IFRS sustainability disclosure standards in late June 2023 has brought to the forefront the themes of the harmonization of sustainability disclosures

    August 22, 2023 WebPage Regulatory News
    News

    EBA Issues Several Regulatory and Reporting Updates for Banks

    The European Banking Authority (EBA) recently issued several regulatory publications impacting the banking sector.

    August 10, 2023 WebPage Regulatory News
    News

    BCBS Proposes to Revise Core Principles for Banking Supervision

    The Basel Committee on Banking Supervision (BCBS) launched a consultation on revisions to the core principles for effective banking supervision, with the comment period ending on October 06, 2023.

    August 04, 2023 WebPage Regulatory News
    News

    US Proposes Final Basel Rules, Transition Period to Start in July 2025

    The U.S. banking agencies (FDIC, FED, and OCC) recently proposed rules implementing the final Basel III reforms, also known as the Basel III Endgame.

    August 04, 2023 WebPage Regulatory News
    News

    FSB Report Outlines Next Steps for Climate Risk Roadmap

    The Financial Stability Board (FSB) recently published the second annual progress report on the July 2021 roadmap to address climate-related financial risks.

    August 04, 2023 WebPage Regulatory News
    News

    EBA Plans on Ad-hoc ESG Data Collection and Climate Scenario Exercise

    The recognition of climate change as a systemic risk to the global economy has further intensified regulatory and supervisory focus on monitoring of the environmental, social, and governance (ESG) risks.

    July 31, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8931