FSB Seeks Feedback On Its Proposals For Quantitative Targets For Enhancing Cross-Border Payments Date
31/05/2021
The proposed targets set goals for improving cost, speed, transparency and access for cross-border payments in the coming years through the actions taken under the Roadmap. They will play an important role in defining the ambition of the work and creating accountability. They are intended to provide a common vision for the improvements that are being sought in cross-border payments services through the collaborative work of the private and public sectors. These targets are being set in an inclusive manner, including through this public consultation.
The proposed targets have been developed so that they are directly related to the challenges, provide a clear indication of the extent of progress, are appropriately ambitious, can be readily communicated, and are meaningful to a wide range of stakeholders. They are designed to be a small number of high-level, simple t
FSB Europe Group Discusses Global Vulnerabilities And Addressing Risks Related To Money Market Funds And Climate Change Date
27/05/2021
The Financial Stability Board (FSB) Regional Consultative Group (RCG) for Europe held a virtual meeting yesterday to discuss global and regional macroeconomic and financial market developments, and their potential impact on European economies.
The group exchanged views on financial stability issues during the recovery from the COVID-19 pandemic, including potential threats to regional financial stability arising from the pandemic. Members also discussed authorities’ considerations in exiting from temporary public support measures, when conditions allow.
The group discussed the most recent FSB initiatives to address climate-related risks to financial stability, including promoting consistent regulatory and supervisory approaches to climate risk and identifying gaps in data for monitoring financial stability. Members also discussed promotin
FSB Commonwealth Of Independent States (CIS) Group Discusses Risks To Financial Stability Date
20/05/2021
The Financial Stability Board (FSB) Regional Consultative Group (RCG) for the Commonwealth of Independent States (CIS) held a virtual meeting today.
Members had a productive discussion on a range of financial stability issues including:
The effects of COVID-19 and temporary support measures adopted by advanced economies on RCG CIS members’ economies.
The effectiveness of RCG CIS members’ respective support measures as well as the challenges in developing an exit strategy from these temporary measures when conditions allow.
Strategies for dealing with Environmental, Social and Governance (ESG) risks, including in assessing their impact on financial stability.
26 Apr 2021
The Better Migration Management (BMM) programme is a regional, multi-year, multi-partner programme which seeks to improve the management of safe, orderly and regular migration through providing support to national authorities to address Trafficking in Persons (TiP) and Smuggling of Migrants (SoM) within and from the EHoA region. In particular, the programme aims to strengthen national and regional migration governance in accordance with global and regional frameworks through enhancing national and cross-border operations as well as inter-agency cooperation on the management of trafficking and smuggling cases between investigations, prosecution, courts and other state and non-state actors in accordance with international standards. The BMM programme also aims to improve the prevention of TiP and SoM and protection of vulnerable migrants at a local, national and regional level, ensuring appropriate assistance and support for victims of trafficking, taking into account age
FSB Chair Updates G20 On COVID-19 Support Measures, And A Roadmap To Address Climate-Related Financial Risks Date
06/04/2021
The letter notes that, while progress is moving at different speeds across jurisdictions, the vaccine rollout heralds an inflection point in the COVID-19 pandemic. While it is sensible to keep measures that support financial system stability and financing of the real economy in place as long as needed, the factors to be considered in deciding whether to extend, amend and, eventually, end support measures are taking shape.
The FSB report on these factors notes that withdrawal of support measures before the macroeconomic outlook has stabilised could be associated with significant immediate risks to financial stability. But financial stability risks may gradually build if support measures remain in place for too long. On balance, most authorities currently believe that the costs of premature withdrawal of support could be more significant than maintaini