The potential impact of frontier AI on cyber risk is the most immediate concern to the financial system, says FSB Chair, Andrew Bailey.
Nonbank Financial Intermediation
In his letter to G20 Finance Ministers and Central Bank Governors, Andrew Bailey, warns that markets remain vulnerable to a potential disorderly correction and cautions on the risks posed by frontier AI models.
Oesterreichische Nationalbank hosts FSB Europe group in Vienna.
FSB members met in London to discuss vulnerabilities in the global financial system and review progress on several FSB workstreams.
28 May 2026
In this speech at Insurance Europe’s 16th International Conference, John Schindler discusses the current outlook for financial stability and vulnerabilities related to the conflict in the Middle East, financial market volatility, and private credit.
6 May 2026
FSB warns that the private credit sector's complexity, leverage, and interconnectedness could amplify stress in adverse scenarios, posing broader risks to financial stability.
6 May 2026
Private credit has expanded rapidly to an estimated $1.5–2 trillion in assets, supporting financing for mid-sized companies but creating potential financial stability risks
FSB Chair’s letter to G20 central bank Governors and Finance Ministers highlights the significant challenges posed by the ongoing conflict in the Middle East and its impact on global financial stability.
FSB Chair warns that the risk of multiple vulnerabilities crystallising simultaneously has increased, posing a heightened threat to global financial stability.
Against a backdrop of rising vulnerabilities, in 2025 the FSB delivered work in key areas such as NBFI leverage, crypto-assets and stablecoins, operational resilience and enhanced cross-border payments.