Having assumed the position of Chair of the Financial Stability Board (FSB) on July 1, 2025, Andrew Bailey has outlined his priorities for the organization in a letter to G20 Finance Ministers and Central Bank Governors. The letter was submitted ahead of the G20 meeting scheduled for July 17-18, 2025.
Bailey's priorities include enhancing surveillance capabilities, addressing key risks to financial stability, and strengthening the effectiveness of the FSB. He advised the G20 about various FSB activities, such as improving data for monitoring vulnerabilities, promoting better cross-border payment services, analyzing potential climate-related impacts on the financial system, and tackling destabilizing effects caused by leverage.
The letter emphasized the importance of remaining vigilant against disruptive market movements due to ongoing uncertainty affecting growth expectations. Bailey called for continued global cooperation amid geopolitical tensions and rising fragmentation risks. He also expressed his commitment to uphold the FSB’s mission and strengthen global financial system resilience.