This letter was submitted to G20 Finance Ministers and Central Bank Governors (FMCBG) ahead of the G20’s meeting on 15-16 October 2025.
Andrew Bailey underscores the importance of cooperation and multilateral institutions to address the pressures from the challenging global environment.
Amid elevated risks and uncertainty, Mr Bailey highlights the need for implementing global standards and remaining vigilant to emerging threats. To facilitate this, the FSB will enhance its surveillance of vulnerabilities in the financial system, while shifting its focus from policy development to monitoring and facilitating the implementation of agreed reforms.
The letter introduces the reports that the FSB is delivering to the G20, namely:
- G20 Roadmap for Cross-border Payments: Consolidated progress report for 2025
- Monitoring Adoption of Artificial Intelligence and Related Vulnerabilities in the Financial Sector
- G20 Implementation Monitoring Review Interim Report, delivered today with the Chair’s letter
- A thematic review, monitoring progress implementing the FSB Global Regulatory Framework for Crypto-asset Activities (to be published on 16 October).
