Annual progress report on the implementation of resolution reforms notes continued challenges in central counterparty (CCP) resolution and resolvability; operationalising resolution plans for insurers; and cross-border resolution in the non-bank sector.
FSB members discussed the outlook for global financial stability, reviewed issues of particular relevance to emerging market and developing economies (EMDEs) and agreed the FSB’s work programme for 2023.
The proposed framework for monitoring progress towards the quantitative targets to enhance cross-border payments, includes key performance indicators defined across the FSB’s 11 targets for the three market segments – wholesale, retail, and remittances.
Initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related risks suggest that measures of exposure and vulnerability to tail risks are likely understated.
Report outlines current issues in promoting a strong and equitable recovery in the wake of the COVID-19 pandemic and steps authorities can take to prevent financial stability impacts and scarring effects to sustainable growth over the long term.