Financial Stability Board

News & Analysis as of

OFAC Authorizes Certain Dealings with Russian Security Agency

In its first public statement since the inauguration, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) announced on February 2, 2017, that it had authorized limited dealings with the Federal Security...more

Brussels Regulatory Brief: February

On 1 January 2017, the torch of the Presidency of the Council of the European Union (“EU”) was passed from Slovakia to Malta. The Presidency rotates every six months between the EU Member States, but continuity is guaranteed...more

General License for Commercial Authorizations from Sanctioned Russian Security Agency

OFAC has issued a new General License to address problems raised by the sanctioning of the Federal Security Services (FSB). This adjustment serves to authorize permits by the FSB needed for certain commercial transactions...more

Climate Change Reporting: Task Force on Climate-related Financial Disclosures

At the end of last year, the Task Force on Climaterelated Financial Disclosures (the Task Force) published its Recommendations Report on climate change related financial disclosures. The 32-member Task Force was...more

Financial Stability Board Issues Activities-Based Recommendations for the Global Asset Management Industry

The FSB continues to plan to revisit whether there are residual entity-specific sources of systemic risk that cannot be addressed effectively by market-wide activities-based policies that would support global systemically...more

Financial Stability Board Publishes Final Recommendations to Address Structural Vulnerabilities from Asset Management Activities

The Financial Stability Board published a report on policy recommendations to address structural vulnerabilities from asset management activities. The FSB recommendations aim to address four structural vulnerabilities from...more

Financial Stability Board Consults on Proposed Guidance on Continuity of Access to Financial Market Infrastructure for Firms in...

The Financial Stability Board launched a consultation on proposed Guidance on continuity of access to financial market infrastructures for a firm in resolution. The FSB's Key Attributes of Effective Resolution Regimes for...more

Financial Stability Board Consults on Internal Loss-absorbing Capacity of G-SIBs

The Financial Stability Board published a consultative paper containing draft Guiding Principles on the internal total loss-absorbing capacity or Internal TLAC of global systemically important banks. The FSB is proposing the...more

Financial Stability Board Publishes 2017 Plan to Address Decline in Correspondent Banking

The Financial Stability Board published an updated progress report outlining its action plan to assess and address the decline in correspondent banking. Correspondent banking relationships enable banks to access financial...more

Financial Stability Board Task Force Issues Recommendations on Climate Change-Related Disclosures

In January 2016, the G20’s Financial Stability Board organized a task force, chaired by Michael Bloomberg, to come up with recommendations for a uniform framework for the disclosure of financial risks and opportunities...more

2016 List of G-SIBs Published

The Financial Stability Board published an updated list of global systemically important banks. The 2016 list of G-SIBs includes the same banks as those in the 2015 list...more

New EU Banking Legislation Reforms

On 23rd November 2016, the European Commission released a package of banking legislation reforms. Some of these were expected – in particular those related to the minimum requirement for eligible liabilities and own funds...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - CFTC Division of Market Oversight Reminds Market Participants of the Upcoming Expiration of Certain No-Action Relief From the Ownership and Control Final Rule - On November 16,...more

Your Daily Dose of Financial News

The Financial Stability Board—that Swiss-based grand collection of central bankers and regulators from the world’s biggest economies—has upped the systemic importance ranking for three of America’s biggest banks, including...more

Financial Stability Board Publishes Assessment Methodology for the Key Attributes of Effective Resolution

The Financial Stability Board published methodology for assessing the implementation of the Key Attributes of Effective Resolution Regimes for financial institutions in the banking sector...more

What’s Your Game Plan? Offensive or Defensive: Playing to Your Strengths [Expect Focus – October 2016]

- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more

On The Horizon: Global Insurance Capital Standards

Since 2013, the International Association of Insurance Supervisors (IAIS), an association of insurance supervisors representing more than 200 jurisdictions in approximately 200 countries, has been working on a plan to develop...more

Financial Stability Board Reports on Progress on its Workplan to Reduce Misconduct Risk

The Financial Stability Board published a second progress report on its workplan to reduce misconduct risk. The workplan was first agreed in May 2015 and the FSB published its first progress report in November 2015. The...more

Financial Stability Board Reports on Implementation of Over-the-Counter Derivatives Reforms 

The Financial Stability Board published its eleventh progress report on the implementation of reforms by standard-setting bodies, national and regional authorities and market participants to the over-the-counter derivatives...more

Financial Stability Board Reports on Risks Posed by Central Counterparties and the CCP Workplan

The Financial Stability Board published a progress report on its CCP workplan. The progress report provides an update on implementation of a workplan agreed on by the FSB, the Basel Committee on Banking Supervision, the...more

Financial Stability Board Launches Thematic Peer Review on Corporate Governance

The Financial Stability Board launched its thematic peer review regarding the implementation of the G20/Organisation for Economic Co-Operation and Development (OECD) Principles of Corporate Governance...more

Association for Financial Markets in Europe Publishes Model Clauses for the Contractual Recognition of Bail-In under Article 55 of...

On August 1, 2016, the Association for Financial Markets in Europe (AFME) published model clauses for the contractual recognition of bail-in for the purpose of satisfying the requirements of Article 55 of the EU Bank Recovery...more

OTC Derivatives Reporting and Clearing in Singapore – An Update on the Regulatory Reforms

Since 2012, in line with its commitment to the G20 and Financial Stability Board ("FSB") reform objectives, the Monetary Authority of Singapore (the "MAS") has undertaken a comprehensive review of the Securities and Futures...more

Casting the Net Wider to Address "Too Big to Fail" - The ISDA 2015 Universal Resolution Stay Protocol

21 major global banks signed the ISDA 2015 Universal Resolution Stay Protocol at launch. Pursuant to the ISDA 2015 Universal Resolution Stay Protocol, these banks have agreed to suspend their termination rights in relation to...more

UK Financial Regulatory Developments - July 2016 #5

Commission reports on FCD - The Commission has reported on the appropriateness of Article 3(1) of the Financial Collateral Arrangements Directive (FCD). The FCD established a framework for the creation and enforcement of...more

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