The Financial Stability Board today outlined its work priority areas for 2022, including a timeline for the publication of a series of research reports on a range of financial stability topics.
The Basel, Switzerland-based organization says it will support international coordination on financial stability issues, particularly due to the economic effects of the Russia-Ukraine conflict, by reinforcing monitoring using a new surveillance framework to review financial sector vulnerabilities and address emerging risks. FSB also plans a follow-up report on financial stability lessons learned from COVID-19 and a report on exit strategies and effective practices for addressing the pandemic’s financial sector effects.
The regulatory and supervisory implications of technological innovation, particularly crypto assets, are also on FSB’s 2022 to-do list, including strengthening operational and cyber resilience. In addition, FSB will continue addressing climate-related financial risks, boosting analytics for monitoring climate-related financial stability risks, identifying regulatory and supervisory approaches to address climate risk, and progressing with its climate-related risk roadmap.
Other issues FSB identified include improving the resilience of nonbank financial intermediation and ongoing work on plans to enhance cross-border payments.