Financial Stability Board (FSB)

ICYMI - Speaking at Insurance Europe's 16th International Conference last week, our Secretary General, John Schindler, highlighted key vulnerabilities - from geopolitical shifts to private credit - threatening the outlook for global financial stability. Read his speech - 🔗 https://bit.ly/4tUiByl #InsConf16 #Insurance #PrivateCredit

📅 Save the Date: Our Deputy Secretary General, Martin Moloney, will speak on 25 June about cross-border payments and digital assets at OMFIF Digital Monetary Institute 👇

🌍 Our Regional Consultative Group for Europe (RCG Europe) convened on 2-3 June in Vienna, hosted by the Oesterreichische Nationalbank. https://bit.ly/3RLDM8y The meeting was co-chaired by Antoine Martin, Vice Chairman of the Governing Board of Schweizerische Nationalbank, and Marja Nykänen, Member of the Board of the Bank of Finland (Suomen Pankki - Finlands Bank). Key discussions focused on: 🔹 FSB work priorities for 2026 🔹 Global and regional vulnerabilities 🔹 Liquidity mismatches in private credit funds 🔹 Financial stability implications of advanced AI models 🔹 System-wide exploratory stress testing We extend our gratitude to the Oesterreichische Nationalbank for their warm hospitality. Learn more about our regional consultative groups and their role in fostering global collaboration: https://bit.ly/3ZWvYCX #FinancialStability #RCG #Europe #PrivateCredit #AI #VulnerabilitiesAssessment

At their recent meeting in London, FSB Members expressed their concern over a complex risk landscape characterised by: 💠 High asset valuations and compressed risk premiums; 💠 Elevated sovereign debt and shortening debt maturities; 💠 Growing usage of private credit, with parts of the sector untested in a prolonged downturn; 💠 Risk of operational outages at critical nodes in the financial system; 💠 Prolonged conflict in the Middle East; 💠 The unveiling of powerful frontier AI models. Find out more: https://bit.ly/4uKvBrO #FinancialMarkets #SovereignDebt #PrivateCredit #FrontierAI #OpRisk Bank of England

The FSB Plenary met on 1 June in London. At the meeting, hosted by the Bank of England, Members expressed particular concern that a combination of shocks could concurrently trigger multiple vulnerabilities, threatening financial stability. While key vulnerabilities remain elevated, the conflict in the Middle East and the unveiling of powerful frontier AI models have further complicated the risk landscape. Members reviewed progress on several of the FSB’s workstreams, including regulatory and supervisory modernisation, the FSB’s implementation monitoring review, and addressing data challenges relating to nonbank financial intermediation. Find out more: https://bit.ly/4uKvBrO #FSBPlenary #FinancialStability #FinancialVulnerabilities #FrontierAI #RegulatoryModernisation #ImplementationMonitoring #NBFI

📆 The April edition of our newsletter, Stability Matters, is here! https://bit.ly/4fOx4bL Each month, Stability Matters brings you a comprehensive roundup of key FSB updates, including reports, speeches, data, and events. It also provides an inside look at the work of the FSB Secretariat through the voices of our staff. 📥 Sign up to receive Stability Matters directly in your inbox: https://bit.ly/462g2Sy 📚 Missed an issue? Explore past editions and other FSB email alerts here: https://bit.ly/4maaHx4 #FSBnewsletter #StabilityMatters #FinancialNews #FinancialStabilityBoard

🗣️ Our Secretary General, John Schindler, delivered a keynote speech at Insurance Europe’s 16th International Conference. Focusing on the theme of conference, “Building Resilience in an Uncertain World”, Mr Schindler outlined the growing vulnerabilities to the global financial system and the work of the FSB to maintain global financial stability. Key topics included: 🔹The impact of geopolitical and economic shifts 🔹Vulnerabilities in sovereign debt and private credit markets 🔹The insurance sector's critical role in fostering global stability As Mr Schindler emphasised, "The insurance sector, with its unique capacity to manage risks and support economic stability, is an indispensable pillar of the global financial system." Read his speech here: https://bit.ly/4tUiByl #FinancialStability #SIFIs #PrivateCredit #InsConf16

👋 Hi, I’m Jürgen Kirchhof, and I’ve been a member of the FSB Secretariat since January 2023, following my time at the European Central Bank in Frankfurt. As a trained accountant, I lead the FSB’s efforts on accounting and auditing, blending external collaboration with internal responsibilities. 💼 On the external front, I work closely with international standard-setting bodies to strengthen financial stability and market integrity. I participate in technical groups like the Basel Committee’s Accounting and Audit Experts Group (AAEG) and IAIS - International Association of Insurance Supervisors’ Accounting and Auditing Working Group (AAWG). I also organise the FSB’s high-profile Audit Roundtables, which are biennial events designed to enhance confidence in audit quality. I also represent the FSB on the Monitoring Group, a group of international financial institutions and regulatory bodies committed to advancing global audit standards and quality. 👛 Internally, I oversee the FSB’s budget, ensuring accountability and transparency. I draft and support the publication of the FSB’s Annual Financial Report, detailing our governance and financial performance, and review quarterly reports to keep us on track. 💡 The FSB’s dynamic “matrix structure” allows me to contribute to broader initiatives, such as supporting Regional Consultative Groups in Europe. This versatility keeps my work exciting and impactful. #FinancialStabilityBoard #Audit #Accounting #FinancialReporting #FinancialMarketIntegrity #Integrity

🌎 Our Regional Consultative Group for the Americas convened on 19-20 May in Grand Cayman, hosted by the Cayman Islands Monetary Authority. https://bit.ly/49O65t5 The meeting was co-chaired by Lisa D. Cook, Governor, US Federal Reserve Board, and Jide Lewis, Deputy Governor of the Bank of Jamaica, and covered the following topics: 🔹 FSB work priorities for 2026 🔹 Global and regional financial vulnerabilities 🔹 Operational resilience, including cyber risks 🔹 Cross-border payments 🔹 Regulatory and supervisory modernisation Thank you to the Cayman Islands Monetary Authority for their warm hospitality. Learn more about our regional consultative groups and their role in fostering global coordination: https://bit.ly/3ZWvYCX #FinancialStability #Americas #CrossBorderPayments #CyberResilience #VulnerabilitiesAssessment #RegulatoryModernisation

ICYMI: Yesterday, our Secretary General, John Schindler, participated in the panel "Banking in a world with stablecoins and tokenized assets" at the Atlanta Fed's 30th Annual Financial Markets Conference, “Technology's Transformative Role in Finance and Central Banking.” John discussed the FSB’s work on digital assets and stablecoins and highlighted opportunities and challenges from an international perspective. We would like to thank the Federal Reserve Bank of Atlanta for the invitation to participate, as well as host David Wessel and fellow panellists Dan Awrey and Carolyn Weinberg for the engaging discussions. 🎥 Watch the recording here: https://bit.ly/43gGsxj #FinancialStability #Crypto #DigitalAssets #Stablecoins #FinancialStabilityBoard