The Financial Stability Board (FSB) has issued a press release following its meeting in Berlin on 6 October. At the meeting FSB plenary discussed its 2017/18 workplan and the next steps on evaluations of effects of reforms.

In terms of its workplan the FSB noted that monitoring and publicly reporting on member jurisdictions’ implementation of the agreed reforms remain a priority.

In terms of evaluating the reforms the press release notes that the evaluation will have two components:

  • the first component, to be completed in advance of the 2018 Argentine G20 Summit, will examine trends in the financing of infrastructure investment including, to the extent possible, evaluating the effects of financial regulatory reforms on such financing; and
  • a related component of the study will examine intermediation trends by broad financing source (including bank financing and market-based financing), across types of borrowers and across countries, and evaluate the effects of the financial reforms on resilient financial intermediation in relevant areas.

The remainder of the press release discusses the following topics:

  • global systemically important financial institutions: members discussed the progress of the annual reviews of the lists of global systemically important banks and global systemically important insurers, conducted with the Basel Committee on Banking Supervision and the International Association of Insurance Supervisors;
  • cyber-security: the plenary reviewed the results of a stocktake of existing publicly available regulations and supervisory practices with respect to cyber-security in the financial sector. The stocktake will be published after the meeting of G20 Finance Ministers and Central Bank Governors in Washington DC next week;
  • addressing misconduct risks: the plenary discussed progress in the development of a toolkit to strengthen governance frameworks to mitigate risks, which is planned to be published in April 2018. The plenary also approved the publication of a progress report on reforms to major interest rate benchmarks from the FSB’s Official Sector Steering Group;
  • market-based finance: the FSB will publish the results of its global shadow banking monitoring exercise by the end of 2017. The FSB also approved the operational arrangements to initiate data collection and aggregation of global securities financing transactions, beginning with end-2018 data. The reporting guidelines will be published later this year; and
  • FSB governance: the FSB appointed Mark Branson, Chief Executive Officer at the Swiss Financial Market Supervisory Authority, as Chair of the Resolution Steering Group for a two-year term ending 31 October 2019. The FSB also agreed to undertake a review of the jurisdictions represented within the FSB’s six regional consultative groups. The plenary agreed to a review of the FSB’s processes, procedural guidelines and transparency to ensure its effective operational as it enters a new stage focused on the implementation and effects of the G20 financial regulatory reforms.

View FSB discusses workplan for 2018, 6 October 2017