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 focuses on promoting global financial stability by addressing new and emerging risks, finalising post-crisis reforms, monitoring their implementation, and enhancing stakeholder engagement. The FSB aims to ensure that reforms are effective, resilient, and aligned with G20 objectives.

Main Areas of Work

1. Addressing New and Emerging Vulnerabilities

• Monitoring Financial Stability: The FSB continues to monitor macro-financial developments and conducts the biannual Early Warning Exercise with the IMF to identify emerging risks.
• Technological Innovation: The FSB evaluates the financial stability implications of FinTech, including the role of crypto-assets and decentralised financial technologies (DeFi).
  • Key Publications:
    • Report on FinTech and market structure in financial services
    • Report on the financial stability implications of decentralised financial technologies
• Cyber Resilience: The FSB supports efforts to improve cyber resilience, including the development of best practices for responding to and recovering from cyber incidents.
  • Key Publication:
    • Progress report on the development of effective practices for cyber incident response and recovery
• Non-Bank Financial Intermediation: The FSB monitors the growth of non-bank financing and its risks through the Annual Global Monitoring Report on Non-Bank Financial Intermediation.

2. Finalising and Operationalising Post-Crisis Reforms

• Resilient Financial Institutions: The FSB continues to work with the International Association of Insurance Supervisors (IAIS) on the Insurance Capital Standard (ICS) and the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame).
• Ending Too-Big-to-Fail (TBTF): The FSB focuses on resolution processes and systemic risk in the insurance sector and financial market infrastructures (FMIs).
• Derivatives Markets: The FSB finalises governance arrangements for the Unique Product Identifier (UPI) and monitors the implementation of reforms.
• Non-Bank Financial Intermediation: The FSB and IOSCO work on implementing recommendations, including consistent leverage measures for funds and reviewing the implementation of securities financing policies.

3. Implementation of Reforms

• Monitoring Implementation: The FSB, along with SSBs, monitors the implementation of reforms through progress reports and peer reviews.
  • Key Publications:
    • 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
• Peer Reviews: The Standing Committee on Standards Implementation (SCSI) completes thematic and country peer reviews.
  • Key Publications:
    • Thematic peer review report on bank resolution planning
    • Thematic peer review report on implementation of the LEI
    • Country peer reviews of Mexico and South Africa

4. Evaluating the Effects of Reforms

• Reform Effectiveness: The FSB evaluates whether reforms are achieving their intended goals and identifies areas for adjustment.
  • Key Publications:
    • Fifth annual report on implementation and effects of the G20 financial regulatory reforms
    • FSB evaluation of the effects of the financial regulatory reforms on SME financing
• Market Fragmentation: The FSB examines the causes and impacts of market fragmentation and explores tools to address it.
  • Key Publication:
    • Report on market fragmentation

5. Reinforcing Outreach to Stakeholders

• Stakeholder Engagement: The FSB improves its engagement with external stakeholders, including academia, consumer groups, and the general public.
• Public Consultation: The FSB standardises its consultation processes, including a 60-day public consultation period for documents affecting stakeholders.
• Regional Consultative Groups (RCGs): The FSB reviews how to enhance the effectiveness of RCGs as a feedback mechanism.

Key Information

• The FSB's work is guided by the principle of maintaining global financial stability.
• The 2019 work programme includes a significant number of deliverables to the G20, marked with an asterisk.
• The FSB will continue to assess the financial stability implications of technological innovation and non-bank financial intermediation.
• Implementation monitoring remains a key focus, with regular progress reports and peer reviews.
• The FSB aims to improve transparency and accessibility of its work to a broader audience.

Key Publications in 2019

• Report on FinTech and market structure in finance
• Thematic peer review report on bank resolution planning
• Thematic peer review report on implementation of the LEI
• 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
• 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
• 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
• Identification of G-SIBs for 2019
• Progress report on interest rate benchmark reforms
• Global Monitoring Report on Non-Bank Financial Intermediation 2019

Conclusion

The FSB's 2019 work programme reflects a continued commitment to global financial stability through proactive risk monitoring, reform finalisation, implementation oversight, and stakeholder engagement. The organisation aims to ensure that reforms are effective, resilient, and adapted to the evolving financial landscape.