This document summarises the responses to the June 2023 public consultation on “Enhancing Third-Party Risk Management and Oversight: A toolkit for financial institutions and financial authorities”.
Report presents the FSB’s assessment of current and emerging vulnerabilities in the global financial system and reflections from the March banking turmoil; outlines the FSB’s work to address these vulnerabilities; and reports on the implementation and effects of G20 financial reforms.
Consultation responses to ‘Enhancing Third-Party Risk Management and Oversight: A toolkit for financial institutions and financial authorities - Consultative document‘.
The proposed toolkit for financial authorities and financial institutions has been developed against a backdrop of digitalisation of the financial services sector and growing reliance of financial institutions on third-party service providers for a range of services, some of which support their critical operations.