Tagged: financial stability board

October 13, 2023 @ 4:46 pm By Omar Faridi  |  

The Financial Stability Board (FSB) published its annual progress report on climate-related disclosures. The report has been delivered to G20 Finance Ministers and Central Bank Governors for their 11-12 October 2023 meeting. The FSB welcomes the publication of the ISSB Standards, which will “serve as… Read More

September 11, 2023 @ 7:50 am By Omar Faridi  |  

The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have advanced policy and regulatory recommendations “to identify and respond to macroeconomic and financial stability risks associated with crypto-assets.” Crypto-assets have been in existence “for more than a decade and have displayed significant volatility…. Read More

July 18, 2023 @ 4:57 pm By JD Alois  |  

The Financial Stability Board (FSB) has published its recommendations for the regulation of digital assets or crypto. The recommendations are described as follows: High-level recommendations for the regulation, supervision, and oversight of crypto-asset activities and markets; Revised high-level recommendations for the regulation, supervision, and oversight… Read More

February 22, 2023 @ 8:10 am By Omar Faridi  |  

The Financial Stability Board (FSB) published a report on the financial stability risks of Decentralised Finance (DeFi). DeFi is commonly “used to describe services in crypto-asset markets that aim to replicate some functions of the traditional financial system in a supposedly decentralized manner – though… Read More

January 2, 2023 @ 8:47 pm By Omar Faridi  |  

Recently, Paxos, the regulated blockchain and tokenization infrastructure platform, submitted recommendations to the Financial Stability Board (FSB) on how best “to safely oversee a global, fiat-backed stablecoin and its issuer.” Paxos welcomed the opportunity “to provide comments to the Financial Stability Board and agreed with… Read More

January 2, 2023 @ 8:40 am By Omar Faridi  |  

Circle has submitted comments to the Financial Stability Board’s (FSB) proposed framework for the international regulation of crypto-asset activities and the regulation and supervision of “Global Stablecoin” Arrangements. Circle appreciates the critical role that the FSB plays in “promoting international financial stability, particularly in developing… Read More

October 11, 2022 @ 11:52 am By JD Alois  |  

The Financial Stability Board (FSB) has published a proposed framework for global regulation of crypto assets. The FSB stated in a release that “crypto-assets and markets must be subject to effective regulation and oversight commensurate with the risks they pose.” While acknowledging there is currently… Read More

October 11, 2022 @ 7:41 am By Omar Faridi  |  

The Financial Stability Board (FSB) recently published the priority themes for the next phase of work under the G20 Roadmap for Enhancing Cross-Border Payments, two years after the Roadmap was launched. The plan reportedly “includes the practical steps to be taken to strengthen external engagement… Read More

July 11, 2022 @ 8:12 am By Omar Faridi  |  

The Financial Stability Board (FSB) published for public feedback a report on “the approach for monitoring progress toward meeting the targets for the G20 Roadmap for Enhancing Cross-border Payments.” The report provides preliminary recommendations “about key performance indicators (KPIs) that could be used to monitor… Read More

April 1, 2022 @ 6:05 pm By Omar Faridi  |  

The Financial Stability Board (FSB) has released its work program for 2022. Priority areas of work and new initiatives, “including key deliverables to the G20 Indonesian Presidency,” are as follows: Supporting international cooperation and coordination on current financial stability issues. Against the backdrop of the… Read More

February 17, 2022 @ 10:27 am By JD Alois  |  

The Financial Stability Board (FSB) published a report yesterday on crypto-asset risks. The FSB is an international entity that promotes global financial stability. As digital assets have grown, the FSB has engaged in the ongoing discussion of the importance and systemic impact of crypto. The… Read More

December 9, 2019 @ 11:09 pm By JD Alois  |  

Depending on the jurisdiction, big tech is moving into financial services at various speeds. In China, big tech already dominates much of the Fintech landscape from payments, to lending, to Wealthtech to savings. It’s all there. In the US, there is a constant, pensive shuffle… Read More

December 9, 2019 @ 7:37 am By Omar Faridi  |  

Some of Hungary’s financial institutions might be forced to exit the market as they may not be adequately prepared to continue to compete with challengers from the Fintech industry. Traditional institutions are also facing increasing pressure due to declining revenues from a consistently low-yield environment,… Read More

November 21, 2019 @ 8:08 am By Omar Faridi  |  

The Financial Stability Board (FSB), an international organization that monitors and makes recommendations regarding the world’s financial system, recently met in Paris in order to discuss key issues facing the global financial industry, including potential vulnerabilities, various Fintech developments, and the agency’s 2020 work program…. Read More

October 14, 2019 @ 9:53 am By JD Alois  |  

The Group of 7 (G7), representing the 7 largest developed economies in the world, is preparing a report slamming Facebook’s Libra. The proposed stablecoin that aspires to be a non-sovereign global currency has been hammered since it was revealed earlier this year. Government officials from… Read More

June 7, 2019 @ 11:18 am By JD Alois  |  

The Financial Stability Board (FSB) is out with a report on Fintech/distributed ledger technology. Entitled Decentralised Financial Technologies, the document reviews the impact of “decentralization” (IE blockchain and other forms of Fintech) on global financial stability and international regulatory environment. The report is being delivered… Read More

June 2, 2019 @ 9:49 am By Cali Haan  |  

Finance Ministers and Central Bank Governors from the globe’s twenty most powerful economies are “expected” to collaborate on creating a global registry of cryptocurrency exchanges when they meet at the G20 Conference in Fukuoka, Japan, in June, Nikkei Asian Review (NAR) reports. G20 government personnel meeting… Read More

April 14, 2019 @ 5:58 pm By JD Alois  |  

The Financial Stability Board (FSB) has published a “Crypto Assets Regulators Directory.” The document was recently distributed at the April G20 Finance Ministers and Central Bank Governors meeting. The FSB was founded in 2008 as an international body that monitors the global financial system. Part… Read More

February 13, 2019 @ 1:08 am By Cali Haan  |  

The Financial Stability Board‘s (FSB) Randal K. Quarles has touched on the need for a global regulatory framework for cryptocurrencies in a speech delivered in Hong Kong February 10th at the Bank for International Settlements Special Governors Meeting. Quarles is the Vice Chairman for Supervision on… Read More

July 21, 2018 @ 2:36 pm By JD Alois  |  

The Financial Stability Board (FSB) published a report on crypto-assets, including cryptocurrency and blockchain based securities, last week. The document is being presented to the G20. The document is a byproduct of the G20 meeting which took place in Buenos Aires in March. The member… Read More