2019年-FSB全球金融稳定委员会_FSB_work_programme_for_2019_7页_276kb

FSB 2019 Work Programme Summary

Core Content

The Financial Stability Board (FSB) work programme for 2019 is centered on promoting global financial stability through monitoring emerging risks, finalising post-crisis reforms, evaluating their effects, and enhancing stakeholder engagement. The FSB continues to focus on resilience, transparency, and the alignment of reforms with G20 objectives.

Main FSB Activities

1. Addressing New and Emerging Vulnerabilities

• Monitoring Macro-financial Developments: Regular member discussions and biannual Early Warning Exercise with the IMF to identify and assess risks.
• Technology and FinTech: Continued monitoring of digitalisation trends, including crypto-assets and decentralised financial technologies (DeFi).
  • Key Deliverables:
    • Report on FinTech and market structure in financial services
    • Report on the financial stability implications of decentralised financial technologies
• Cyber Resilience: Enhancing financial institutions' ability to respond to and recover from cyber incidents.
  • Key Deliverables:
    • Progress report on the development of effective practices for cyber incident response and recovery
• Non-Bank Financial Intermediation: Monitoring the growth of non-bank financing and its stability implications.
  • Key Deliverables:
    • Annual Global Monitoring Report on Non-Bank Financial Intermediation

2. Finalising and Operationalising Post-Crisis Reforms

• Resilient Financial Institutions: Finalising the Insurance Capital Standard (ICS) and Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame).
• Ending Too-Big-to-Fail (TBTF): Addressing systemic risk in the insurance sector and financial market infrastructures (FMIs), and improving guidance on central counterparties (CCPs).
• Derivatives Markets: Improving trade reporting effectiveness and identifying UPI service providers.
• Non-Bank Financial Intermediation: Finalising leverage measures for funds and reviewing implementation timelines for securities financing.
  • Key Deliverables:
    • Fifth annual report on implementation and effects of the G20 financial regulatory reforms
    • Progress report on implementation of OTC derivatives market reforms
    • Progress report on the implementation of the FSB Principles & Standards for Sound Compensation Practices

3. Implementation of Reforms

• The FSB and SSBs will continue to monitor implementation progress through regular reports and peer reviews.
• Key Deliverables:
  • Fifth annual report on implementation and effects of the G20 financial regulatory reforms
  • Country peer reviews of Mexico and South Africa
  • Resolution progress report
  • Progress report on addressing the decline in correspondent banking relationships
  • Progress report on implementing the recommendations on remittance firms' access to banking services

4. Evaluating the Effects of Reforms

• The FSB will assess the effectiveness of reforms, particularly their impact on SME financing and other areas.
• Key Deliverables:
  • FSB evaluation of the effects of the financial regulatory reforms on SME financing
  • Report on market fragmentation

5. Reinforcing Outreach to Stakeholders

• The FSB aims to improve transparency, communication, and engagement with external stakeholders, including academia, consumers, and the general public.
• Key Activities:
  • Standardising public consultation processes with a 60-day period for significant documents.
  • Increasing the visibility and accessibility of FSB information.
  • Enhancing the role of Regional Consultative Groups (RCGs) in stakeholder feedback.

Key Publications and Deliverables

• February: Report on FinTech and market structure in finance
• March: Thematic peer review report on bank resolution planning
• April:
  • Issues note on decentralised financial technologies
  • Directory of regulators on crypto-assets
  • Progress report on the implementation of the FSB Principles & Standards for Sound Compensation Practices
  • Public consultation paper on solvent wind-down of derivatives and trading portfolios
  • Public consultation paper on public disclosures on resolution planning and resolvability
• May: Thematic peer review report on implementation of the LEI
• June:
  • Report on market fragmentation
  • Report on the financial stability implications of decentralised financial technologies
  • Progress report on the development of effective practices for cyber incident response and recovery
  • Summary progress update on the implementation of financial regulatory reforms
  • Progress report on addressing the decline in correspondent banking relationships
  • Progress report on implementing the recommendations on remittance firms' access to banking services
  • Consultative report of FSB evaluation on the effects of the financial regulatory reforms on SME financing
  • Review of the technical implementation of the TLAC Standard
• October:
  • Fifth annual report on implementation and effects of the G20 financial regulatory reforms
  • Final report of FSB evaluation on the effects of the financial regulatory reforms on SME financing
  • Final paper on solvent wind-down of derivatives and trading portfolios
  • Final paper on public disclosures on resolution planning and resolvability
  • Resolution progress report
• November:
  • Identification of G-SIBs for 2019
  • Progress report on interest rate benchmark reforms
• December:
  • Country peer reviews of Mexico and South Africa
  • Global Monitoring Report on Non-Bank Financial Intermediation 2019

Conclusion

The 2019 FSB work programme reflects a comprehensive approach to financial stability, focusing on both monitoring and mitigating new risks and ensuring the effective implementation and evaluation of post-crisis reforms. It also highlights the importance of stakeholder engagement and transparency in achieving these goals.