FSB

CLO, FSB

The Financial Stability Board (FSB) published a report on Vulnerabilities associated with leveraged loans and collateralised loan obligations (CLOs). The report assesses the financial stability implications of developments in the…

Fintech, interest rate benchmarks, stablecoins top FSB’s 2020 priorities

December 18, 2019

benchmark reform, fintech, FSB, regtech, stablecoins, suptech

The Financial Stability Board (FSB) published its work programme for 2020. The FSB’s work priorities for 2020 reflect the evolving nature of the global financial system and associated risks to…

FSB reports on risk of bigtech and cloud vendors

December 8, 2019

bigtech, cloud technology, FSB

The Financial Stability Board (FSB) published two reports that consider the financial stability implications from an increasing offering of financial services by bigtech firms, and the adoption of cloud computing…

FSB updates Regulatory framework for haircuts on non-centrally cleared securities financing transactions

November 26, 2019

FSB, Haircuts, securities finance

This document sets out a revised framework for haircuts on non-centrally cleared securities financing transactions. As in the October 2014 Framework Document, it consists of recommendations on: (i) qualitative standards…

FSB 2019 resolution report focuses on CCP resilience

November 14, 2019

CCPs, FSB, Resolution

The Financial Stability Board (FSB) today published its 2019 Resolution Report. The report provides an update on progress in implementing policy measures to enhance the resolvability of systemically important financial…

Institutional crypto weekly roundup

November 13, 2019

AFME, Bakkt, blockchain, crypto assets, crypto custody, crypto exchanges, crypto regulation, cryptocurrencies, Cyberian, DLT, FSB, GLI, J.P. Morgan, Japan, LSEG, MAS, MUFG, Progmat, Project Ubin, security tokens, stabecoins, Temasek

Our weekly list of announcements about how capital markets participants and regulators are engaging with digital assets. MAS, J.P. Morgan, Temasek develop blockchain-based prototype for multi-currency payments The Monetary Authority…

The future of global regulatory agencies in an era of fragmentation

October 31, 2019

Basel III, Financial Stability Board, IOSCO, Regulatory

Basel Committee, BCBS, Financial Stability Board, FSB, IOSCO, topstory

The Basel Committee on Banking Supervision (BCBS) is not a regulator – it is set up to produce frameworks that individual jurisdictions then adopt – but even so, its directives…

Institutional crypto weekly roundup

October 23, 2019

ANNA, Bermuda, Circle, Coinbase, Commerzbank, crypto assets, Deutsche Borse, digital assets, DLT, Eurex Clearing, Facebook, FSB, G20, G7, Libra, Munich Re, stablecoins, standardization, standards, tokens, USDC

Our weekly list of announcements about how capital markets participants and regulators are engaging with digital assets. Commerzbank, Deutsche Börse and Munich Re asset management arm complete securities settlement transaction…

FSB reports that OTC derivatives reforms have plateaued

October 15, 2019

News and Notes, News and Notes – Fintech

data management, FSB, G20, Regulations, Trade repositories

The Financial Stability Board (FSB) published its annual progress report on the implementation of the agreed G20 reforms to over-the-counter (OTC) derivatives markets. Overall there has been limited additional implementation…

FSB publishes UPI guidelines for Q3 2022 implementation

October 9, 2019

CPMI-IOSCO, FSB, LEIs, OTC derivatives, Trade repositories, UPIs

The Financial Stability Board (FSB) has published a report on the governance arrangements for the globally harmonized Unique Product Identifier (UPI). The UPI will uniquely identify the product involved in…

MLex: tech giants’ cloud services for banks under FSB scrutiny says Fed governor

October 2, 2019

bigtech, cloud, Federal Reserve, FSB, Lael Brainard, systemic risk

Cloud services provided to banks by technology giants such as Amazon and Microsoft are being scrutinized by the international Financial Stability Board, US Federal Reserve governor Lael Brainard said. Basel-based…

FSB extends timelines for SFT minimum haircut standards implementation

July 19, 2019

FSB, Minimum Haircuts, SFTs

The Financial Stability Board (FSB) today announced adjustments to the implementation timelines for its recommendations on securities financing transactions (SFTs), specifically those related to minimum haircut standards for non-centrally cleared…

FSB publishes review of TLAC Standard

July 2, 2019

FSB, TLAC

The Financial Stability Board (FSB) today published a technical review of the implementation of the Total Loss-Absorbing Capacity (TLAC) Standard for Global Systemically Important Banks (G-SIBs) in resolution. When fully…

FSB report considers implications of decentralized financial technologies

June 6, 2019

blockchain, decentralized, DLT, fintech, FSB, G20

The Financial Stability Board (FSB) published a report on decentralised financial technologies. This report considers the financial stability, regulatory and governance implications of the use of decentralized financial technologies such…

Financial services pulls ahead on climate change reporting as regulators spur action

June 5, 2019

climate change, CPD, ESG, FSB, TCFD

The FSB said that a recently released TCFD (Task Force on Climate-related Financial Disclosures) report finds encouraging progress on climate-related financial disclosure, but also need for further progress to consider…

FSB report on market fragmentation scrutinizes CCPs, data, cyber and crypto

June 4, 2019

CCPs, central clearing, cryptoassets, cyber, cybersecurity, data management, FSB, market fragmentation

The Financial Stability Board has released a report on market fragmentation, which was delivered to G20 Finance Ministers and Central Bank Governors ahead of their meetings in Fukuoka on 8-9…

FSB publishes user guide for overnight risk-free rates

June 4, 2019

alternative risk free rates, FSB, LIBOR, RFRs

The Financial Stability Board (FSB) has today published a user guide to overnight risk-free rates (RFRs). The guide provides an overview of RFRs, details of how they are calculated, and…

FSB publicly consults on resolution-related disclosures and on the operationalisation of bank recovery and resolution

June 3, 2019

derivatives, FSB, recovery, Resolution

The Financial Stability Board (FSB) today published for public consultation two discussion papers that consider measures to improve the resolvability of global systemically important banks (G-SIBs). Following the global financial…

FSB to tackle cyber risk with “toolkit”

June 1, 2019

cybersecurity, FSB, G20

The FSB agreed on the importance of having in place effective practices relating to a financial institution’s response to, and recovery from, a cyber incident. As such, a working group…

FSB reports on work underway to address crypto asset risks

May 31, 2019

crypto assets, FSB, G20

The Financial Stability Board (FSB) today published a report on crypto-assets, which considers work underway, regulatory approaches and potential gaps. The report is being delivered to G20 Finance Ministers and Central…

FSB publishes peer review of implementation of the Legal Entity Identifier

May 28, 2019

Financial Stability Board, FSB, Legal Entity Identifier, LEI

The Financial Stability Board (FSB) published today a Thematic Review on Implementation of the Legal Entity Identifier (LEI). The LEI is a 20-character, alpha-numeric code that was introduced following the…

AI and fintech fragmentation on FSB European group’s agenda

May 9, 2019

artificial intelligence, Europe, fintech, FSB, G20

At a recent meeting in Bucharest, the Financial Stability Board (FSB) Regional Consultative Group (RCG) considered implications of the growing use of artificial intelligence, machine learning and big data for…

FSB designates DSB as Unique Product Identifier (UPI) Service Provider

May 2, 2019

DSB, FSB, UPIs

At its meeting on 26 April in New York, the FSB designated The Derivatives Service Bureau (DSB) Ltd (DSB) as the service provider for the future UPI system. This is…

FSB publishes peer review on bank resolution planning

April 29, 2019

bank resolution, FSB, Living Wills

The Financial Stability Board (FSB) published today a Thematic Review on Bank Resolution Planning. This report forms part of a series of peer reviews to support timely and consistent implementation…

What FSB highlights for tech risk at G20

April 9, 2019

cryptoassets, cybersecurity, FSB, G20

Ahead of this week’s G20 meeting, FSB Chair Randal Quarles highlighted key issues to finance ministers and central bank governors in a letter. Among them was addressing new and emerging…

FSB publishes cryptoasset regulators directory

April 6, 2019

crypto regulation, cryptoassets, FSB

The Financial Stability Board (FSB) published a cryptoassets regulators directory. The purpose of the directory is to provide information on the relevant regulators and other authorities in FSB jurisdictions and…

FSB chair Quarles on bigtech and fintech supervisory challenges

March 29, 2019

bigtech, fintech, fintech regulation, FSB, Quarles

Excerpts from speech by Randal Quarles, vice chair for Supervision, Board of Governors of the Federal Reserve System, and chair Financial Stability Board, at Joint Conference of the European Central…

FSB asks ISDA to help clarify what happens if LIBOR is discontinued

March 15, 2019

Financial Stability Board, FSB, ISDA, LIBOR

FSB letter to ISDA about derivative contract robustness to risks of interest rate benchmark discontinuation This letter from the Co-chairs of the FSB’s Official Sector Steering Group (OSSG) encourages the…

Regulators fire warning shot at bigtech, fintech out of crosshairs for now

February 18, 2019

Artificial Intelligence, Technology

bigtech, cloud technology, FSB

A recent Financial Stability Board report highlighted the challenges to the financial markets of new market actors we often refer to as bigtech, defined by the global financial watchdog as…

FSB identifies fintech, crypto assets, cyber resilience in 2019 priorities

February 12, 2019

crypto assets, cybersecurity, fintech, FSB

The Financial Stability Board’s work priorities are designed to promote global financial stability. Vigilant monitoring to identify, assess and address new and emerging risks to financial stability lies at the…

FSB work plan for 2019 focuses on wrapping up loose ends

February 12, 2019

Financial Stability Board, FSB

FSB work programme for 2019 This work programme details the FSB’s planned work and an indicative timetable of main publications for 2019. It reflects the FSB’s continued pivot from policy…

Fed’s Randal Quarles: next steps for the Financial Stability Board

February 10, 2019

Federal Reserve, FSB, Quarles

Ideas of Order: Charting a Course for the Financial Stability Board Vice Chairman for Supervision Randal K. Quarles At Bank for International Settlements Special Governors Meeting, Hong Kong February 10,…

FSB publishes Global Monitoring Report on Non-Bank Financial Intermediation 2018

February 4, 2019

FSB, Non-Bank financial intermediation

The Financial Stability Board (FSB) today published the Global Monitoring Report on Non-Bank Financial Intermediation 2018. The report presents the results of the FSB’s eighth annual monitoring exercise that assesses…

Global regulatory committees say CCP adoption working but concentration of clearing firms is high

November 19, 2018

CCPs, CPMI, FSB

The Financial Stability Board (FSB), the Basel Committee on Banking Supervision (BCBS), the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published today…

FSB consults on whether existing financial resources are enough for CCP resolution

November 15, 2018

CCPs, Financial Stability Board, FSB

Financial resources to support CCP resolution and the treatment of CCP equity in resolution Available as: PDF 15 November 2018 This discussion paper seeks comment on financial resources to support…

FSB publishes progress report on reforming major interest rate benchmarks

November 14, 2018

alternative reference rates, FSB, LIBOR

The Financial Stability Board (FSB) today published its latest progress report on implementation of its recommendations to reform major interest rate benchmarks. The report sets out the progress made on…

FSB publishes dictionary to standardize cyber terms

November 14, 2018

Cyber Lexicon, cybersecurity, FSB

The Financial Stability Board (FSB) published a Cyber Lexicon, following public consultation earlier this year. The lexicon comprises a set of approximately 50 core terms related to cybersecurity and cyber…

Financial authorities put fintech, regtech, suptech on global agenda ahead of G20

November 5, 2018

Bali Fintech Agenda, Bank for International Settlements, cybersecurity, FSB, FSI, G20

The Financial Stability Board (FSB) Regional Consultative Group (RCG) for Asia met in Sydney, Australia at a meeting hosted by the Reserve Bank of Australia to discuss cybersecurity and the…

FSB finds crypto assets not a material risk to global financial stability, for now

October 10, 2018

crypto assets, financial stability, FSB

The Financial Stability Board (FSB) published a report on crypto asset markets. It sets out the analysis behind the FSB’s proactive assessment of the potential implications of crypto-assets for financial…

FSB and IMF publish the 2018 progress report on G20 Data Gaps Initiative

September 26, 2018

Data Gaps Initiative, FSB, G20, IMF

The Financial Stability Board (FSB) and International Monetary Fund (IMF) today published the third progress report on the implementation of the second phase of the G20 Data Gaps Initiative (DGI-2).…

FSB’s latest report card on G20 data gaps identifies IT challenges, big data progress

September 25, 2018

Big Data, Central Banks, Data Gaps Initiative, FSB, G20, IMF

In 2009, the G20 Finance Ministers and Central Bank Governors endorsed a set of recommendations to support enhanced policy analysis of emerging risks and close the data gaps identified following…

FSB publishes industry cyber lexicon consultation responses

September 5, 2018

cybersecurity, FSB

In July, the Financial Stability Board (FSB) published a draft Cyber Lexicon for public consultation. The draft lexicon comprised a set of 50 core terms related to cybersecurity and cyber…

CPMI: Call for comments on governance of OTC derivatives data

August 17, 2018

CPMI, FSB, OTC

The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) have today published for public comment a consultative report on governance arrangements for over-the-counter…

FSB, CPMI, IOSCO and BCBS study highlights continued central clearing interdependencies

August 9, 2018

CPMI, FSB, workplan implementation

Study highlights continued central clearing interdependencies The Financial Stability Board (FSB), the Committee on Payments and Market Infrastructures (CPMI), the International Organization of Securities Commissions (IOSCO) and the Basel Committee…

FSB and standard-setting bodies consult on effects of reforms on incentives to centrally clear over-the-counter derivatives

August 7, 2018

central clearing, FSB, OTC derivatives

7 August 2018 The Financial Stability Board (FSB), the Basel Committee on Banking Supervision (BCBS), the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions…

FSB puts out call for budding UPI service providers

July 17, 2018

FSB, G20, OTC derivatives, UPI

The Financial Stability Board (FSB) has published a questionnaire for prospective UPI Service Providers and is seeking responses from entities that wish to be designated by the FSB as a…

FSB delivers plan to G20 for monitoring crypto asset markets

July 17, 2018

BCBS IOSCO, CPMI, crypto assets, FSB, G20

The Financial Stability Board (FSB) published a report delivered to the G20 Finance Ministers and Central Bank Governors on the work of the FSB and standard-setting bodies on crypto assets.…

ISDA Publishes Consultation on Technical Issues Related to Benchmark Fallbacks

July 12, 2018

Benchmarks, FSB, LIBOR

NEW YORK, July 12, 2018 – The International Swaps and Derivatives Association, Inc. (ISDA) has launched a market-wide consultation on technical issues related to new benchmark fallbacks for derivatives contracts…

FSB says that if IBORs don’t work, get ready to transition to new reference rates

July 12, 2018

FSB, LIBOR