FSB meets in Hong Kong: The FSB met in Hong Kong and discussed current vulnerabilities in the financial system and progress in:
- addressing systemically important financial institutions (SIFIs);
- over-the-counter (OTC) derivatives (the meeting recognised the need to keep up the momentum to meet the deadline of the end of 2012 for completing the reforms);
- shadow banking;
- the Legal Entity Identifier (LEI);
- FSB’s capacity, resources and governance; and
- implementation, monitoring and adherence to standards.
(Source: FSB Meets in Hong Kong)