Financial Stability Board (FSB)
Banks will be tested in next phase of pandemic – FSB chair
Reforms are needed to improve resolution planning and non-bank resilience, Randal Quarles says
FSB flags ‘gaps’ in too-big-to-fail reforms
Report highlights evidence reforms are working, but resolution remains imperfect and data limited
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules
FSB consults on cyber attack ‘response and recovery’
“Efficient and effective response” is critical to minimising the financial stability impact, report says
FSB co-ordinating Covid-19 response – Quarles
Board is focused on protecting financial stability both during and after the pandemic, chair says
FSB outlines 10-point plan for tackling global stablecoin risks
Some powers already exist but stablecoins may cut across regulatory boundaries, report says
The long march to global growth
Liang Tao, vice-chairman of the China Banking and Insurance Regulatory Commission, says that China’s growth is fuelling innovation and modernisation, but financial regulation and governance needs to be tightened up for China to take its place at the top…
FCA consults on new climate risk disclosures
Firms will have to publish disclosures or explain why not; critics believe the new rules should be mandatory
Wider use of LEIs will improve stability, says DNB president
LEI system should be improved and made compulsory for more types of financial data – Klaas Knot
FSB boosts role of regional groups in decision-making
Review finds groups valued and should have greater say in FSB affairs
Governor of the year: Mark Carney
Carney has played a vital role in managing Brexit risks while driving efforts towards climate, payments and dollar funding reform
UK government names Carney as green finance adviser
Departing BoE governor will advise UK prime minister at UN climate conference in November
Economists call for action on risk of dollar liquidity crunch
Credit to non-banks and currency mismatches have grown, while oversight is “fragmented”, report warns
Cloud throws up new financial stability risks – FSB
Reliance on third-party cloud platforms creates risks, especially given market power of providers
Data sharing could curb big tech dominance – FSB
Ensuring all financial market incumbents have access to same data could level the playing field
FSB’s G-Sib list increases by one
One joins the list and one major bank drops to a lower bucket
FSB warns gaps remain in resolution frameworks
Issues remain for central counterparties, global banks and insurers, report finds
G7 group warns of stablecoin risks as FSB sets out plans
Group’s final report says global stablecoins could generate “significant adverse effects”; FSB outlines plan for review of stablecoin regulation
FSB calls out ‘uneven’ regulation as vulnerabilities evolve
Board cautions against complacency; Basel Committee says members are still missing deadlines
FSB raises pressure on stablecoins as firms abandon libra
Several major payment firms have distanced themselves from the project amid intense regulatory scrutiny
World risks ‘global liquidity crunch’, former BIS officials warn
“Urgent action” needed to prevent crisis, say Philip Turner and André Icard
FSB looking into regulations applicable to stablecoins
Stablecoins may be small now, but there’s “no doubt” they pose regulatory challenges, FSB chair says
Hong Kong introduces resolution facility after FSB peer review
Updated funding framework could aid embattled banks in case of liquidity crunch
People: Brazilian government nominates World Bank official for deputy governor role
Sri Lanka names monetary policy board member; Bank of Ghana governor appointed to FSB role