Financial Stability Board

News & Analysis as of

FSB reports on shadow banking

FSB has published a suite of papers on shadow banking. The papers comprise: - a progress report on actions taken to implement FSB’s two-pronged strategy to address financial stability concerns associated with shadow...more

FSB publishes global securities financing standards and processes

FSB has published its report on standards and processes for global securities financing data collection and aggregation. FSB highlighted the importance of securities financing transactions in supporting price discovery and...more

Structured Thoughts: News for the financial services community, Volume 6, Issue 8

Structured Notes and Issuer Quiet Periods Background - Most issuers establish a “quiet period” (also called a “blackout” period) prior to the release of potentially sensitive information and material non-public...more

FSB reports on misconduct risk

FSB has published a report to G20 on FSB’s work to address misconduct risks in the financial sector and the timeline for these actions. FSB wishes to tackle the following areas...more

FSB reports on correspondent banking

FSB has published a report to G20 on actions taken to assess and address the decline in correspondent banking. It claims correspondent banking is essential for individuals, businesses and banks themselves. The report updates...more

FSB writes to G20 on financial reforms progress

FSB has published a letter to G20 reporting on the progress being made in financial regulatory reforms in advance of the Antalya Summit. It sets out four key points...more

FSB reports on G20 financial regulatory reforms

FSB has published its first annual report to G20 on the implementation and effects of the G20 financial regulatory reforms. It describes progress by FSB member jurisdictions in implementing the financial reforms agreed in the...more

FSB proposes disclosure task force on climate-related risks

FSB has published a proposal to G20 for the creation of an industry-led disclosure task force on climate-related risks. G20 asked FSB for ideas on how to help lenders...more

FSB issues TLAC standard for G-SIBs

FSB has published its final TLAC standard for global systemically important banks (G-SIBs). The TLAC standard seeks to define a minimum requirement for the instruments and liabilities that should be readily available for...more

FSB reports on compensation practices

FSB has published its fourth annual progress report on implementing its Principles for Sound Compensation Practices and their implementation standards. The report finds that: - almost all FSB jurisdictions have now fully...more

Orrick's Financial Industry Week in Review

MiFID II Overhaul of Financial Market Rules to be Delayed - The MiFID II Directive (2014/65/EU) seeks to implement a major overhaul of existing legislation concerning the structures within which financial instruments are...more

Resolution of GSIBs – FSB Final TLAC Principles

On 9 November 2015, the Financial Stability Board (FSB) published its final principles on the loss-absorbing and recapitalisation capacity of global systemically important banks (G-SIBs) in resolution together with a final...more

Basel Committee consults on haircut floors

The Basel Committee is consulting on a proposal to incorporate the FSB policy framework for haircut floors for non-centrally cleared securities financing transactions (SFT) into the Basel III framework. The proposal is based...more

LEIROC reports on GLEIS

LEIROC has published a report on the Global Legal Entity Identifier System (GLEIS) and regulatory uses of the LEI in a letter to FSB. LEIROC informs FSB that the GLEIS is now in place. It also describes the results of a...more

BCBS Consultation Document on Haircut Floors

The Basel Committee on Banking Supervision (BCBS) has published a consultation document on haircut floors for non-centrally cleared securities financing transactions. The report is published following a recommendation by the...more

FSB releases resolvability measures

FSB has published two guidance papers and three consultations as part of its policy to end “too big to fail” and work towards resolvability of all financial institutions that could be systemic if they fail. It has...more

FSB updates G-SIIs list

FSB has published an updated list of G-SIIs. The updated list comprises a total of nine insurers with one new insurer, Aegon...more

FSB updates G-SIBs list

FSB has updated the list of G-SIBs. There are now 30 banks on the list. China Construction Bank has been added to the list and BBVA removed. In conjunction with this publication, the Basel Committee has released the following...more

FSB reports on OTC implementation

FSB has issued a peer review and a progress report on the implementation of reforms to the over-the-counter (OTC) derivatives market. The peer review assesses progress of FSB member jurisdictions in implementing trade...more

Financial Regulatory Developments Focus - November 2015

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

PRA Publishes Consultation Paper On Operational Continuity (CP 38/15)

The UK Prudential Regulation Authority (PRA) has published a consultation paper on operational continuity for larger retail and investment banks. It follows on from a 2014 discussion paper on the topic and sets out proposals...more

International Association of Insurance Supervisors Completes Higher Loss Absorbency Requirement for Global Systemically Important...

In its commitment to address risks of Global Systemically Important Insurers (“G-SIIs”) on the global financial system, the International Association of Insurance Supervisors (“IAIS”) recently announced completion of its...more

FSB reports on FX benchmark reforms

FSB has published a progress report on the implementation of its September 2014 recommendations for reforms to foreign exchange (FX) benchmarks. The report assesses market progress by the main foreign exchange committees and...more

IAIS develops HLA requirement for G-SIIs

IAIS has published its higher loss absorbency (HLA) requirement for global systemically important insurers (G-SIIs) which has been endorsed by the FSB. Together with the basic capital requirements (BCR) this measure aims to...more

FSB discusses ongoing workplan progress

FSB has met to discuss progress in its ongoing workplan. Its key priorities include: - market liquidity and asset management: encouraging the appropriate stress testing by funds to assess their ability to meet...more

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