The Financial Stability Board met in Tokyo to take forward its 2016 priorities. A key deliverable agreed at this meeting was elements of a public consultation to take place in mid-2016 on policy recommendations to address structural vulnerabilities from asset management activities.Low global nominal growth environment was the topmost concern in bankers’ mind as banks continue to face challenges to profitability.
The FSB’s priorities for 2016 are:
- Supporting the full, timely and consistent implementation of post crisis reforms, while remaining ready to address any material unintended consequences.
- Addressing new and emerging vulnerabilities in the financial system, including potential risks associated with market-based finance, misconduct, reduction in correspondent banking and climate risk.
- Promoting robust financial infrastructure, working with CPMI and IOSCO to assess policies on central counterparty (CCP) resilience, recovery and resolvability, and recommending any necessary improvements.
Here is the full FSB statement.