The Financial Stability Board (FSB) Plenary met in Toronto on June 14 to discuss various financial stability issues. Key topics included the financial stability outlook, lessons from the March 2023 banking turmoil, and enhancing the resilience of non-bank financial intermediation (NBFI). The FSB also reviewed progress on implementing its global regulatory framework for crypto asset…
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The Financial Stability Board (FSB) will deliver reports on asset tokenization and AI later in 2024, according to Chair Klaas Knot. FSB Chair @KlaasKnot letter to #G20Brazil Finance Ministers and Central Bank Governors outlines the FSB’s work programme during the Brazilian G20 Presidency. https://t.co/hipdBI4ouy#FinancialStability #NonBanks #cryptoassets #ClimateChange #CrossBorderPayments pic.twitter.com/qGYxOSpbDT — The FSB (@FinStbBoard) February 26,…
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The incoming deputy governor of financial stability at the Bank of England (BoE) has said that crypto does not yet pose much of a risk to financial stability. During a hearing held by Parliament’s Treasury Committee, Sarah Breeden, set to assume her new role on November 1, discussed the value and risks associated with cryptocurrencies. Breeden emphasized the potential benefits…
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On Monday, the Financial Stability Board (FSB), a product of the G20 organization, unveiled its proposed guidelines for a global regulatory structure overseeing the operations of crypto assets. The international entity emphasizes that nations should confront the risks cryptocurrencies pose to global financial stability. The FSB contends that occurrences within the preceding year have underscored…
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“Effective regulatory and supervisory frameworks should be based on the principle of ‘same activity, same risk, same regulation,’” said the FSB proposal. The international monitoring body Financial Stability Board, or FSB, has proposed a comprehensive framework for cryptocurrencies aimed at addressing potential risks while “harnessing potential benefits of the technology.” In an Oct. 11 report, the…
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