FSB Chair Sets Out the FSB’s Work to Maintain Financial Stability Amidst Technological Advancements

Excerpt:  “The Financial Stability Board (FSB) today published a letter from its Chair, Klaas Knot, to G20 Finance Ministers and Central Bank Governors, ahead of their meeting on 23-24 October. Fears over the global economic outlook are easing, with a number of central banks cutting interest rates. The letter warns of vulnerabilities associated with high debt levels and asset prices, the interaction of non-bank liquidity and leverage, and the connections between different asset and funding markets, illustrated by the short-lived market volatility in August. The letter outlines the work the FSB has undertaken on financial innovation, payments systems, and cyber and operational resilience.”