FSB has published its 2016 work programme as detailed in a letter to G20 Finance Ministers and Central Bank Governors. FSB priorities for 2016 are:
- to support full and consistent implementation of post-crisis reforms while remaining ready to address any material unintended consequences;
- to address new and emerging vulnerabilities in the financial system, including potential risks associated with market-based finance, asset management activities, conduct, correspondent banking and climate change; and
- to promote robust financial infrastructure, working with the Committee on Payments and Market Infrastructures and IOSCO to assess policies on central counterparty (CCP) resilience, recovery and resolvability, and recommending any necessary improvements.
Among key initiatives are setting up a co-ordination group to look at correspondent banking, including how to address its decline, and focusing on implementation of too-big-to-fail policies, specifically work to support resolution planning and TLAC. FSB also sets out the ways in which it envisages supporting the objectives of the Chinese G20 Presidency. The report sets out several deadlines for deliverables to the G20 during 2016. (Source: FSB sets out 2016 work programme)