At its meeting in Cairns, the FSB discussed vulnerabilities affecting the global financial system and reviewed work plans for completing core financial reforms.
Statement by Daniel K. Tarullo, Member Board of Governors of the Federal Reserve System before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C.
The FSB publishes proposals, plans and timelines for the reform and strengthening of existing major interest rate benchmarks (such as LIBOR, EURIBOR and TIBOR) and for additional work on the development and introduction of alternative benchmarks.
The FSB Plenary has approved the creation of the Global Legal Entity Identifier Foundation (GLEIF) and is filing papers to establish the GLEIF as a Swiss not for profit Foundation.
The FSB advises financial institutions to be aware that Venezuela has been determined by the FSB to be a non-cooperative jurisdiction with respect to regulatory and supervisory standards on international cooperation and information exchange.
The Financial Superintendence of Colombia and the Central Bank of Colombia hosted the sixth meeting of the FSB Regional Consultative Group for the Americas in Bogotá, Colombia.