Financial Stability Board
|Financial Stability Board|
|Products||Global group of regulators|
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The Financial Stability Board (FSB) is an entity established to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability.
FSB brings together national authorities responsible for financial stability in 24 countries and jurisdictions, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts.
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In July 2018, FSB published a report on the global implications of cryptocurrency. The report concluded that "crypto-assets do not pose a material risk to global financial stability at this time," yet recognized "the need for vigilant monitoring in light of the speed of market developments." In the report, the organization described a framework for monitoring the crypto markets, in collaboration with the Committee on Payments and Market Infrastructures (CPMI). This framework included metrics on trading volumes, pricing, clearing and margining for crypto-asset derivatives.
In October 2018, the FSB published another report saying that cryptocurrency poses numerous threats to global financial stability, though the threat is not yet "significant" due to the limited size of the market.
- FSB report sets out framework to monitor crypto-asset markets. Financial Stability Board.
- http://www.fsb.org/wp-content/uploads/P160718-1.pdf. Financial Stability Board.
- FSB Concludes that Cryptocurrency is a Developing Threat. Finance Magnates.