FSB publishes meeting minutes: FSB has published a report on its meeting in Frankfurt on 26 March. The meeting addressed:

  • welcoming the ministries of finance for Argentina, Indonesia, Saudi Arabia and Turkey and the South African Reserve Bank as new FSB members;
  • a discussion of issues related to implementation, home-host issues, proportionality and sequencing raised by emerging market and developing economies;
  • a range of the vulnerabilities in the financial system;
  • a work plan to identify financial stability risks associated with market liquidity in fixed income markets and asset management activities and longer-term structural financial stability issues that may arise;
  • the responses received on the proposed application of numerical haircut floors to non-bank-to-non-bank securities financing transactions;
  • the responses to its public consultation on policy proposals to enhance the total loss-absorbing capacity of global systemically important banks (G-SIBs) in resolution and reviewed progress of impact assessment studies under way;
  • next steps to finalise FSB’s guidance on statutory and contractual approaches to the cross-border recognition of resolution actions, following the recent public consultation;
  • a work plan to promote central counterparty (CCP) resilience, recovery planning and resolvability;
  • a work plan to address misconduct in financial institutions which have the potential to create systemic risks by undermining trust in financial institutions and markets;
  • the draft outline of the consolidated annual report to the G20 on the implementation and effects of financial regulatory reforms;
  • the draft thematic peer review report on supervisory frameworks and approaches for systemically important banks; and
  • a proposal for the third and final phase in the implementation of its initiative to collect data on G-SIB exposures and funding through a common data template.

FSB also heard reports from the co-chairs of its six regional consultative groups, which cover the Americas, Asia, the Commonwealth of Independent States, Europe, Middle East & North Africa, and Sub-Saharan Africa. (Source: Meeting of the FSB in Frankfurt on 26 March)