First annual progress report takes stock of progress made by standard-setting bodies and other international organisations on the actions coordinated through the FSB Roadmap, outlines areas for further attention, and provides updates where needed to the detailed Roadmap actions.
FSB Chair’s letter presents the FSB’s report on exit strategies to support equitable recovery and address effects from COVID-19 scarring in the financial sector; discusses the FSB’s role coordinating the international regulation of crypto-assets; and reviews progress under the FSB roadmap for addressing climate-related financial risks.
Opening remarks delivered by Klaas Knot, Chair of the FSB, at a press conference ahead of the G20 Finance Ministers and Central Bank Governors’ Meeting in Bali, Indonesia.
Statement reaffirms FSB’s commitment to promote international consistency of regulatory and supervisory approaches and facilitate cross-border and cross-sector cooperation amongst national authorities and international standard-setters as they work towards developing risk-based and technology-neutral policy for the wide spectrum of crypto-assets, grounded in the principle of “same, activity, same risk, same regulation”.
Report outlines the benefits that could accrue from the use of the Legal Entity Identifier in cross-border payment transactions and sets out recommendations and options to promote the use of the LEI.
FSB members discussed the outlook for global financial stability against the backdrop of the continuing war against Ukraine, as well as the FSB’s planned contributions to the July G20 Finance Ministers and Central Bank Governors meeting in Indonesia.
