FSB

FSB Chair’s letter to G20 Leaders: November 2025

Amidst a challenging outlook for growth, the FSB will work to strengthen implementation of global standards and to respond to changes in the financial system, writes Andrew Bailey.

Evolution of private credit markets and stablecoins warrant close monitoring, says FSB Chair

Andrew Bailey reaffirms the FSB’s commitment to supporting G20 countries in responding to a high pace of change in the global financial system.

FSB Plenary sets out 2026 work plan

FSB members met in Riyadh and discussed vulnerabilities in the global financial system and agreed the FSB work programme for 2026.

FSB recommends Spain further enhance cyber resilience of its financial sector to address rising challenges

Spanish authorities should develop a comprehensive threat landscape, leverage best practices, and establish a national analysis of registers of information and a single national channel for incident reporting.

Peer Review of Spain

Peer review assesses Spain’s efforts to enhance cyber resilience in its financial sector and recommends further steps to address rising financial stability risks from operational incidents and cyber-attacks.

Practices Paper on the Operationalisation of Transfer Tools

Report explores the practices and considerations involved in implementing different types of transfer tools to support resolution authorities in enhancing their resolution preparedness.

FSB finds significant gaps and inconsistencies in implementation of crypto and stablecoin recommendations

Uneven implementation creates opportunities for regulatory arbitrage and complicates oversight of the inherently global and evolving crypto-asset and stablecoin market.

Thematic Review on FSB Global Regulatory Framework for Crypto-asset Activities

Progress in implementing the FSB Crypto Framework is welcome but gaps and inconsistencies remain, highlighting the need for jurisdictions to do more to reach full and consistent implementation.

FSB Chair’s letter to G20 Finance Ministers and Central Bank Governors: October 2025

FSB Chair Andrew Bailey calls for steadfast follow-through on agreed reforms in order to guarantee a resilient global financial system.

G20 Implementation Monitoring Review: Interim report

Report outlines the implementation history of the main G20 financial reforms and provides an assessment of how well implementation of these recommendations is progressing.

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