FSB Asia group discusses market developments, digital assets, and operational resilience

FSB Asia group discusses market developments, digital assets, and operational resilience
Banking & Financial Services
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Klaas Knot Chair of the FSB | Financial Stability Board

Global financial authorities gathered in Sydney for a meeting of the Financial Stability Board (FSB) Regional Consultative Group for Asia. The discussions focused on several key issues impacting the region's financial stability.

Participants reviewed current trends in global financial markets and assessed potential risks to financial stability within Asia. The group also discussed efforts to improve crisis preparedness and resolution planning for financial institutions, reflecting ongoing concerns about the ability of banks and other firms to respond effectively to shocks.

Another major topic was the rapid development of digital assets and stablecoins. Authorities shared updates on recent changes in this sector and examined regulatory responses designed to address emerging risks.

Operational resilience featured prominently in the agenda as well. Attendees considered how operational failures, such as those caused by cyber incidents or technology outages, can interact with more traditional financial risks like liquidity risk.

The meeting provided an opportunity for regional policymakers to coordinate their approaches and share best practices as they confront evolving challenges in the global financial system.