At its meeting on 10-11 October, FSB discussed some of the recent developments FReD has reported on such as the Basel Committee’s reviews of timeliness and consistency of Basel 3 implementation, its framework for domestic systemically important banks (D-SIBs) (see below) and FSB’s own peer review of existing bank resolution regimes. It also anticipated the following important publications and actions during the coming weeks:

  • an FSB consultation paper with guidance on recovery and resolution;
  • a consultation on an integrated set of policy recommendations on shadow banking;
  • the fourth progress report on OTC derivatives reforms;
  • the Enhanced Disclosure Task Force final report on improving the quality and comparability of information on risk exposure and management that banks provide to investors;
  • a roadmap to accelerate the implementation of FSB’s principles for reducing mechanistic reliance on credit rating agency (CRA) ratings;
  • FSB will act as coordinator of the different reviews into benchmark-setting, to ensure knowledge is shared and emerging good practices widely adopted; and
  • G20 will endorse the draft Charter of the LEI (Legal Entity Identifier) Regulatory Oversight Committee, and the LEI Foundation operating the Central Operating Unit will be established.

(Source: Press Release - FSB Meeting in Tokyo)