FSB Americas group discusses climate-related financial risks and developments in banking and crypto-assets

At their previous meeting in December 2022, members had exchanged views on the use of crypto-assets in their jurisdictions and policy issues against the backdrop of the collapse of FTX and the turmoil in crypto-asset markets. [...] Members discussed the FSB’s progress toward finalising its recommendations for the regulation, supervision and oversight of crypto-assets and markets, and for global stablecoin arrangements. [...] The working group, which has been active for 10 years, has completed its work and is being stood down following the inclusion of the jurisdictions with the largest NBFI activity into the FSB’s global monitoring exercise. [...] Ahead of the meeting, on 25 May the RCG held a seminar bringing the public and private sectors together to discuss experiences in the region with cross-border payments and the implementation of the FSB-coordinated cross-border payments roadmap. [...] The FSB coordinates at the international level the work of national financial authorities and international standard-setting bodies and develops and promotes the implementation of effective regulatory, supervisory, and other financial sector policies in the interest of financial stability.