FINANCIAL STABILITY BOARD

Big Picture

Bank Culture Regarded as Critical Governance Priority: Report

By Manesh Samtani | 16/05/2022

Financial regulators are prioritising psychological safety, ‘speak up’ culture, and the ability to “predict and prevent” stakeholder harm, says a report from Starling.

AML / KYC

ISDA AGM Highlights Global Scrutiny of Crypto Sector

By Manesh Samtani | 14/05/2022

Senior officials from the FSB, Basel Committee, US SEC, and CFTC spoke at ISDA’s AGM about the need for more regulation in the crypto sector.

AML / KYC

Countries Should Ensure Capital Controls Cover Crypto: IMF

By Editors | 12/05/2022

A new IMF paper calls on policymakers to preserve the effectiveness of capital controls by clarifying the legal status of crypto assets.

Fintech / Regtech

TerraUSD Collapse Highlights Need for Stablecoin Regulation: Yellen

By Manesh Samtani | 12/05/2022

The world’s fourth largest stablecoin lost its peg this week, trading as low as 23 cents to the dollar on Wednesday.

Big Picture

Out-of-Court SME Restructuring Protects Financial Stability: FSB

By Manesh Samtani | 10/05/2022

Jurisdictions should assess their out-of-court corporate debt workout frameworks and reduce barriers to access for SMEs experiencing corporate stress.

ESG / Sustainability

FSB Issues Guidance for Regulators on Climate-related Risks

By Editors | 29/04/2022

The report offers recommendations for monitoring, managing and mitigating climate-related risks to promote consistent approaches across sectors and jurisdictions.

Big Picture

FSB Proposes Policy Measures to Address EM Vulnerabilities

By Editors | 26/04/2022

The proposals seek to reduce vulnerabilities from foreign currency borrowing, including by exploring ways to reduce the “mechanistic use of credit ratings” by index providers.

Crypto / Digital Assets

FSB Warns of Emerging Vulnerabilities, Financial Stability Risks

By Manesh Samtani | 21/04/2022

Global financial stability cannot be taken for granted going forward, FSB Chair Klaas Knot said in a letter to G20 Finance Ministers and Central Bank Governors.

Market Infrastructure

FSB Applauds ‘Smooth Transition’ Away from LIBOR

By Editors | 05/04/2022

The FSB highlights a need to continue building liquidity in RFR-based products, use SOFR across global markets, and plan for the remaining USD LIBOR settings to cease.