Difference between revisions of "Financial Stability Board"

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{{Infobox_Company  <!-- Feel free to remove comments like this when you add real info -->
 
{{Infobox_Company  <!-- Feel free to remove comments like this when you add real info -->
 
| company_name = Financial Stability Board
 
| company_name = Financial Stability Board
 
| company_logo =  [[Image:FSBlogo.jpg]]
 
| company_logo =  [[Image:FSBlogo.jpg]]
| key_people =    <!-- CEO, President, etc, don't need to list everybody -->
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| key_people =    Randal Quarles, head of FSB
 
| foundation =    April 1999
 
| foundation =    April 1999
 
| location =      Basel, Switzerland
 
| location =      Basel, Switzerland
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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.  
 
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.  
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== Cryptocurrency ==
 
== Cryptocurrency ==
  
<ref>{{cite web|url=https://www.financemagnates.com/cryptocurrency/news/g20-board-concludes-that-cryptocurrency-is-a-developing-threat/|name=FSB Concludes that Cryptocurrency is a Developing Threat|org=Finance Magnates|date=October 11, 2018}}</ref>  
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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.<ref>{{cite web|url=http://www.fsb.org/2018/07/fsb-report-sets-out-framework-to-monitor-crypto-asset-markets/|name=FSB report sets out framework to monitor crypto-asset markets|org=Financial Stability Board|date=October 11, 2018}}</ref><ref>{{cite web|url=http://www.fsb.org/wp-content/uploads/P160718-1.pdf|name=http://www.fsb.org/wp-content/uploads/P160718-1.pdf|org=Financial Stability Board|date=October 11, 2018}}</ref>
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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.<ref>{{cite web|url=https://www.financemagnates.com/cryptocurrency/news/g20-board-concludes-that-cryptocurrency-is-a-developing-threat/|name=FSB Concludes that Cryptocurrency is a Developing Threat|org=Finance Magnates|date=October 11, 2018}}</ref>
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=== Libra ===
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[[Libra]], the cryptocurrency project created by [[Facebook]], became a significant issue on the FSB's radar shortly after its announcement in May 2019. The international FSB said it would be keeping a close eye on the project around the same time, even sending a letter to G20 leaders ahead of their summit in Osaka, Japan; Randal Quarles, the head of the FSB and vice-chairman of the Federal Reserve said that "wider use of new types of cryptoassets for retail payment purposes would warrant close scrutiny by authorities to ensure that they are subject to high standards of regulation."<ref>{{cite web|url=https://www.ft.com/content/0c1f3832-96b1-11e9-9573-ee5cbb98ed36|name=Global regulators deal blow to Facebook’s Libra currency plan|org=Financial Times Alphaville|date=June 26, 2019}}</ref>
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== Key People ==
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Randal Quarles - head of FSB
  
 
== References ==
 
== References ==

Latest revision as of 11:16, 26 June 2019

Financial Stability Board
FSBlogo.jpg
Founded April 1999
Headquarters Basel, Switzerland
Key People Randal Quarles, head of FSB
Products Global group of regulators
Twitter @FinStbBoard
LinkedIn Profile
Website FSB Forum
Releases Company News

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.

Full page on MarketsWiki

To read the full article on the Financial Stability Board, click on Marketswiki.gif to open a new tab with MarketsWiki.

Cryptocurrency

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.[1][2]

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.[3]

Libra

Libra, the cryptocurrency project created by Facebook, became a significant issue on the FSB's radar shortly after its announcement in May 2019. The international FSB said it would be keeping a close eye on the project around the same time, even sending a letter to G20 leaders ahead of their summit in Osaka, Japan; Randal Quarles, the head of the FSB and vice-chairman of the Federal Reserve said that "wider use of new types of cryptoassets for retail payment purposes would warrant close scrutiny by authorities to ensure that they are subject to high standards of regulation."[4]

Key People

Randal Quarles - head of FSB

References