Financial Stability Board (FSB)
FSB turns to video in effort to widen comms reach
“Safer, simpler, fairer” video seeks to broaden communications effort to a less specialised audience
Carney hails progress but Basel III must be completed ‘urgently’
FSB chair calls for more work on over-the-counter markets
FSB builds analytical framework to tackle fintech risks
Report defines “technology neutral” method of classifying fintech firms, helping to pin down potential costs and benefits
People: Haldane keeps his MPC seat; new FSB chairs appointed
BoE’s chief economist Haldane keeps his MPC seat for another term; new FSB chairs picked as Norman Chan and European deputies step down; and more
FSB’s Mena group meets in Abu Dhabi
Turkish and Qatari governors are set to chair the regional group from June 30
Growth of shadow banks led by risky investment vehicles – FSB
Shadow banks continue to gain ground, with those offering liquidity and maturity transformation showing some of the fastest growth
Nouy criticises EC’s regulation reform proposals
ECB supervisor questions a “one-size-fits-all” approach to supervision
A CCP is a CCP is a CCP
The challenge of establishing standards for CCP risk management and resilience is even more difficult when policymakers view CCPs through the lens of banking regulation
Reforms have helped curb bank CEO pay – BIS paper
Researchers examine how principles introduced by the Financial Stability Board impacted pay for top managers
Securities regulation ‘does not need brand new framework’ – Esma head
Regulators must avoid inconsistency, Maijoor says
Brazil stands out for ‘pioneering work’ in trade reporting – FSB
Peer review finds the South American nation has overcome many of the issues plaguing others, making it a leader among FSB jurisdictions
Carney warns of fading regulatory momentum
“Nascent risks” could threaten progress made so far if lawmakers and regulators give in to “reform fatigue”, the FSB chairman says
FSB sets out proposals for governing ‘unique transaction identifier’
System should avoid “unnecessary complexity”, document argues
People: FSB appoints Kganyago and Chan to committees; Bank of Spain picks new directors-general
Financial Stability Board replaces Menon and Tarullo with South African and HKMA governors; Bank of Spain makes appointments in financial stability and supervision; and more
FSB issues draft guidance on CCP resolution
Regulators’ powers should include “bail-in” and “full tear-ups”, FSB recommends; regulators should have resolution plans for all systemically important CCPs, including cross-border provisions
BIS authors design game of asset managers
Authors model effects of cash hoarding and investor runs, finding that “hoarding is the rule, rather than the exception”, with implications for stress testing
FSB: ‘no immediate case’ for aligning rehypothecation rules
No pressing need to harmonise rules, but better monitoring of global collateral reuse will give regulators a clearer understanding, FSB says
FSB finalises recommended action on asset management risks
Set of recommendations tackle liquidity, leverage, op risk and securities lending; work on globally systemic designations pushed back until 2019
FSB: Japan should strengthen financial stability framework
Latest peer review says Japan has work to do in improving the macro-prudential framework and clarifying approach to resolution
Task force launches climate disclosure recommendations
Mark Carney says better information will allow investors to “back their convictions with their capital”; Mary Schapiro says businesses will take the lead, even if politicians will not
FSB updates systemic institutions list
Citigroup and HSBC swap places at the top of the rankings; ECB's “significant” banks list now at 127
FSB’s agenda remains full going into 2017
Progress over past year includes loss absorbency, climate disclosure and shadow banking, though plenty of tasks remain for next year
Regulators still searching for best approach to fintech
OCC chief says experience of other regulators is shaping US approach, but questions use of “sandboxes”; FSB’s Andresen warns of need to act early in rapidly evolving sector
Central banks must do more on green finance – UN report
Current progress is not enough to deliver long-run stability; central banks should work with other stakeholders to align the financial system with climate change goals, UN report says