US Treasury and HM Treasury published a joint statement from the eighth Financial Regulatory Working Group meeting held on 6 September.
Topics covered in the meeting included broad discussions on:
- Economic and financial stability outlook, taking stock of economic trends and market conditions;
- International banking issues, such as the importance of implementing reforms consistent with Basel III
- Developments in the non-bank sector and views on national money-market fund reforms and NBFI work taken forward by the FSB and international standard setting bodies;
- Climate-related financial risks and sustainable finance and progress in this area, including the publication of ISSB’s final standards and IOSCO’s endorsement of those standards;
- International engagement and the importance of cross-border cooperation;
- Digital finance and updates on developments in crypto-asset markets and avenues for future work and international engagement in the space.
The Working Group agreed to reconvene in 2024.