Consultation report sets out proposed changes to the FSB’s 2017 Policy Recommendations to Address Structural Vulnerabilities from Asset Management Activities in relation to liquidity mismatch in open-ended funds.
The proposed toolkit for financial authorities and financial institutions has been developed against a backdrop of digitalisation of the financial services sector and growing reliance of financial institutions on third-party service providers for a range of services, some of which support their critical operations.
FSB urges market participants to act expeditiously to ensure an orderly transition and that their legacy contracts are prepared to transition by end-June 2023.
Report sets out a concept for developing a common format for incident reporting exchange (FIRE) to collect incident information from financial institutions and that authorities could use for information sharing.