On 14 July 2025, the Financial Stability Board (FSB) published a letter from its new Chair, Andrew Bailey, to G20 Finance Ministers and Central Bank Governors.
Having taken up the role of FSB Chair on 1 July 2025, Andrew Bailey sets his priorities for the FSB, notably:
- Enhancing surveillance capabilities.
- Addressing key risks to financial stability.
- Strengthening the effectiveness of the FSB.
When addressing key risks to financial stability Mr Bailey mentions:
- Supporting robust implementation of the various agreed policies on Nonbank Financial Intermediation.
- Exploring vulnerabilities that may arise from the growing role of private finance in the financial system.
- Assessing the increasing role of stablecoins for payment and settlement purposes.