Pandemic has impacted post-crisis reform work – FSB
“Substantial work” still outstanding in important areas, Financial Stability Board says
The Covid-19 pandemic has impacted the timeline for implementing several post-crisis reforms, even as “substantial work” remains needed, the Financial Stability Board says.
The pandemic has led to several key reforms being delayed. Implementation of the final Basel III framework has been pushed back a year, to January 2023, and reforms to derivatives, non-bank finance and too-big-to-fail banks have also been deferred.
The FSB said it was “monitoring the use of flexibility” when it came to
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