FSB urges market participants to act expeditiously to ensure an orderly transition and that their legacy contracts are prepared to transition by end-June 2023.
FSB sets out three ways to achieve greater convergence in cyber incident reporting: issuing recommendations to address impediments to achieving greater harmonisation in cyber incident reporting, advancing the development of common terminologies related to cyber incidents and taking forward work to develop a common format for incident reporting exchange (FIRE).
FSB Chair’s letter notes the need to learn lessons from recent events in the banking sector and outlines the cyber incident reporting recommendations that the FSB is delivering to the meeting.
The plan synthesises the lessons learnt from the initial phase of work and feedback from stakeholders, and focuses the next phase of work on three priority themes.
FSB Chair’s letter looks at the outlook for financial stability and outlines the FSB’s key work priorities for 2023, including non-bank financial intermediation, crypto-assets, cross-border payments, cyber and operational resilience, and work to address climate-related financial risks.
Report provides an overview of the main features and vulnerabilities of Decentralised Finance (DeFi), assesses potential financial stability risks and draws policy implications.