Events listed in [FSB] Financial Stability Board
Final Reflections on the LIBOR Transition
ID 24466
The FSB initiated the OSSG in 2013 to ensure a smooth transition away from LIBOR, and after a decade of preparation, the LIBOR transition is now in its final stage. As of June 2023, the remaining USD LIBOR panel has ended, with only three US dollar LIBOR settings continuing in synthetic form until end-September 2024. Reforms for other interest rate benchmarks and transition efforts ...
Deployment of Unallocated Total Loss-Absorbing Capacity (uTLAC): Considerations for ...
ID 24428
The TLAC standard is designed to ensure that failing G-SIBs have enough loss-absorbing and recapitalization capacity available during resolution. uTLAC refers to TLAC resources that are not distributed to material sub-groups beyond what is needed to cover risks on the resolution entity’s solo balance sheet. uTLAC serves as a pool of readily available and fungible resources for the resolution entity. It can be flexibly ...
Continuity of access to financial market infrastructure (FMI) services for firms in ...
ID 24390
The FSB emphasizes the significance of continuity of access to FMI services for banks, especially during resolution. The FSB Framework and Questionnaire were designed to help FMI service providers gather relevant information for clients and resolution authorities to support resolution planning. Survey feedback in October 2022 indicated that the FSB guidance is valuable, but more uptake by FMIs and FMI intermediaries is needed. **The ...
FSB finalises global regulatory framework for crypto-asset activities
ID 24235
The FSB has released a Global Regulatory Framework for Crypto-Asset Activities aimed at enhancing regulatory and supervisory consistency worldwide. Indeed, recent events have highlighted the inherent volatility and vulnerabilities of crypto-assets and related players, emphasizing the potential risks to the broader financial system if linkages to traditional finance were to expand further. **The FSB was directed by the G20 to coordinate the development of ...
FSB outlines next steps on climate roadmap, following the finalisation of the ...
ID 24217
The FSB has released its yearly progress report on the FSB Roadmap for Tackling Climate-Related Financial Risks. This report assesses the advancements made by the FSB, standard-setting bodies, and other international organizations in implementing the actions outlined in the Roadmap. Additionally, it highlights specific areas that require more focus and offers updates on the detailed Roadmap actions. Climate-related events are increasing, leading to a ...
FSB consults on policies to address vulnerabilities from liquidity mismatch in ...
ID 24043
The FSB has released a consultation report focused on tackling liquidity mismatch issues in open-ended funds. The report suggests updates to the FSB’s 2017 Policy Recommendations, which aim to address vulnerabilities arising from asset management activities. Indeed, back in 2022, the FSB conducted an assessment to evaluate the effectiveness of its 2017 Policy Recommendations on addressing vulnerabilities from asset management activities. The findings indicated ...
FSB consults on toolkit for enhancing third-party risk management and oversight
ID 23816
The FSB has released a toolkit for public consultation, aimed at assisting financial authorities, financial institutions, and service providers in managing and overseeing third-party risks. The toolkit acknowledges the increasing digitalization of the financial services sector and the growing reliance on third-party service providers by financial institutions for various critical operations. While these dependencies can offer advantages such as flexibility, innovation, and im ...
FSB Statement to encourage final preparations for the USD LIBOR transition
ID 23031
The FSB published a statement concerning the transition away from the USD LIBOR by the end of June 2023. The FSB emphasises that there has been significant progress made thus far, but notes that it is crucial market participants continue to act in a timely and efficient manner to ensure an orderly transition, minimize operational risks, and support the foundation of a stable financial ...
Climate-related Financial Risk Factors in Compensation Frameworks
ID 22877
The FSB published its Climate-related Financial Risk Factors in Compensation Frameworks report, discusses the increasing trend of financial institutions using non-financial measures, including ESG aspects, to drive accountability for performance measurement in order to determine variable compensation. The report specifically focuses on how climate-related financial risk factors are being incorporated into compensation frameworks. The report provides examples of evolving pract ...
FSB sets out a comprehensive approach to achieve greater convergence in cyber ...
ID 22764
The FSB published the final report of its Recommendations to Achieve Greater Convergence in Cyber Incident Reporting as well as its Format for Incident Reporting Exchange (FIRE), and updated its Cyber Lexicon. Cyber incidents are increasingly becoming more frequent and sophisticated, while the cyber threat landscape is rapidly expanding due to digital transformation, geopolitical tensions, and increased dependencies on third-party service providers. The **interconnectedness . ...