FSB chair calls for effective implementation of agreements

The Financial Stability Board has published a letter from its Chair, Klaas Knot, to G20 finance ministers and central bank governors ahead of their October meeting. The letter outlines the work the FSB has undertaken on financial innovation, payments systems, and operational resilience. It also introduces the reports the FSB is submitting to the G20 addressing these issues, including:

• The financial stability implications of tokenization
• The status report on the G20 Crypto-Asset Policy Implementation Roadmap
• A consultation on a common Format for Incident Reporting Exchange (FIRE)
• G20 Roadmap for Enhancing Cross-border Payments: Consolidated progress report for 2024

The Financial Stability Board is an international body that monitors and makes recommendations about the global financial system.