The Financial Stability Board has written to G20 Finance Ministers and Central Bank Governors outlining its priorities for the year. At the G20 meeting on 24-25 February, it plans to present papers on:
- non bank financial intermediation – FSB notes significant vulnerabilities in the sector, not least opacity and contagion risk;
- crypto-assets and decentralised finance – looking to fill data monitoring gaps and focusing on how, while DeFi does not differ substantially from traditional finance in the functions it performs, it inherits and may amplify the vulnerabilities of that system; and
- cross-border payments.
It will also continue its work on enhancing cyber and operational resilience and climate-related financial risks.