FSB

Pro-cyclicality, Regulatory, Repo

Federal Reserve, FSB, Goldman Sachs, SIFMA, topstory

As the repo markets enter Q4 2020, banks are preparing the results for additional stress tests, against a backdrop of strict limitations such as capped dividend payments and prohibitions against…

FSB publishes toolkit for FI cyber incident response and recovery

October 19, 2020

cybersecurity, FSB, G20

The Financial Stability Board (FSB) published a toolkit of effective practices for financial institutions’ cyber incident response and recovery. Cyber incidents pose a threat to the stability of the global…

FSB: global stablecoins should adhere to all regulations, address risks before operating

October 13, 2020

FSB, G20, stablecoins

The FSB released a report setting out high-level recommendations for the regulation, supervision and oversight of “global stablecoin” (GSC) arrangements. GSC arrangements are expected to adhere to all applicable regulatory…

FSB: bigtech expansion in finance “more rapid and broad-based” for EMDEs

October 12, 2020

bigtech, Emerging Markets, FSB

The Financial Stability Board (FSB) published a report for G20 about market developments and financial stability implications from the provision of financial services by bigtech firms in emerging market and…

FSB report highlights increased use of regtech and suptech

October 11, 2020

FSB, regtech, suptech

The Financial Stability Board (FSB) published a report on the use of supervisory (suptech) and regulatory (regtech) technology by FSB members and regulated institutions. The report contains a variety of…

FSB updates on G20 data gaps progress after 2021 delay on COVID

October 8, 2020

Data Gaps Initiative, FSB

Accurate and timely data are crucial for informing policy decisions, especially during a crisis. The progress made to date by participating economies under the second phase of the data gaps…

FSB extends implementation timelines for securities financing transactions

September 7, 2020

FSB, Haircuts, SFTs

The Financial Stability Board (FSB) announced extensions to the implementation timelines for minimum haircut standards for non-centrally cleared securities financing transactions (SFTs), to ease operational burdens on market participants and…

Slew of financial services groups urge international authorities to make digital markets commitment

July 29, 2020

digitization, FSB, ISLA

ISLA (International Securities Lending Association) has submitted a joint letter to the Bank for International Settlements, the Financial Stability Board, and the International Organization of Securities Commissions asserting its commitment…

FSB and Basel Committee set out supervisory recommendations for benchmark transition

July 10, 2020

Basel Committee, Benchmarks, FSB, LIBOR

Continued reliance of financial markets on LIBOR poses clear risks to global financial stability. Transition away from LIBOR by end-2021 requires significant commitment and sustained effort from both financial and…

FSB statement on the impact of COVID-19 on global benchmark reform

July 1, 2020

alternative benchmarks, benchmark reform, FSB

The Financial Stability Board (FSB) has discussed the impact of COVID-19 on global benchmark transition. The FSB’s Official Sector Steering Group (OSSG) is monitoring the developments closely and recognizes that…

FSB consults on assessing adequacy of financial resources for CCP resolution

May 4, 2020

CCPs, FSB, resolution plans

The Financial Stability Board (FSB) published a public consultation report on Guidance on financial resources to support CCP resolution and on the treatment of CCP equity in resolution. The guidance…

FSB consults on effective practices for cyber incident response and recovery

April 20, 2020

cybersecurity, FSB

The Financial Stability Board (FSB) published a consultation report on Effective Practices for Cyber Incident Response and Recovery, which was sent to G20 Finance Ministers and Central Bank Governors recently.…

FSB consults on 10 recommendations for global stablecoins

April 14, 2020

FSB, stablecoins

The Financial Stability Board (FSB) published for consultation 10 high-level recommendations to address the regulatory, supervisory and oversight challenges raised by global stablecoin arrangements. Technological innovation in the financial sector…

Basel Committee says use liquidity buffers and HQLA to support real economy, absorb losses

March 23, 2020

BIS, coronavirus, FSB, HQLA, liquidity buffers

The Basel III framework includes capital and liquidity buffers that are designed to be used in periods of stress. These include the capital conservation buffer and, by extension, the countercyclical…

FSB’s Knot touts LEI’s role in monitoring risk, improving data quality

February 5, 2020

De Nederlandsche Bank, FSB, ISO, LEIs

In line with the G20 recommendations, the Financial Stability Board is a strong supporter for a broader uptake of the LEI. We see many benefits not just from a regulatory…

FSB report finds no net change in repo positions of non-bank intermediaries

January 21, 2020

FSB, Non-Bank financial intermediation, Repo

Global Monitoring Report on Non-Bank Financial Intermediation 2019 OFIs continue to be net providers of cash to the financial system through reverse repos, while banks remain net recipients of cash…

FSB report assesses vulnerabilities of leveraged loans and CLOs

December 19, 2019

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