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Cross-border payments global roadmap

Cross-border payments global roadmap

Objectives In the context of an ever-faster development of internet transactions and payments which challenge traditional organisations among which legal boundaries, the 2020 the Group of Twenty (G-20) asked the Financial Stability Board (FSB) to coordinate the development of a roadmap regarding the enhancement of cross-border payments. To quote the closing remarks of Jerome H. … Continued

Global financial fragmentation: can progress be made?

Objectives The objective of this session is to discuss whether differences in policy responses to Covid-19 have fragmentary effects or give rise to cross-border and cross- sectoral spillovers that may warrant enhanced international coordination. The progress made in the four areas identified by the Financial Stability Board – i) deference; (ii) pre-positioning of capital and … Continued

Prospects for global and EU ESG standards converging​

Objectives Globally, there is a proliferation of ESG standards – often alluded to as non-financial information – resulting from multiple private or public initiatives. Such initiatives are fuelled in particular by the need to swiftly address climate related urgencies by appropriately channelling savings to sustainable investments, and symmetrically, the always increasing sensibility of investors regarding … Continued

Lessons from Covid on non-bank financial intermediation

Objectives The objective of this session is to discuss the potential vulnerabilities that remain to be addressed in the investment fund sector and more broadly in connection with non-bank financial intermediation activities (NBFI) in the EU and the policy measures that may be needed for ensuring the resilience of these products and activities going forward.  … Continued

How should Basel banking standards evolve now?

Objectives The Covid-19 pandemic triggered an exogenous economic crisis, which held back the implementation of the unprecedented overhaul of banking regulatory standards initiated in the wake of the 2008 financial crisis. However, the Group of Central Bank Governors and Heads of Supervision (GHOS) reaffirmed their expectation of a full, timely and consistent implementation of all … Continued