With the post financial crisis reform agenda close to complete, the Financial Stability Board (FSB), is turning its sights on reviewing the impact of those reforms.
The FSB Plenary met in Berlin on Friday to review its work plan for 2017 and 2018. Following the meeting, it issued a statement indicating that its work co-ordinating the international post-crisis policy agenda is almost complete, and that it will now be evaluating the effects of these efforts.
In particular, it aims to undertake an evaluation of the reforms impact on financial intermediation, along with other international standards setters. It is also reviewing the incentives for central clearing of over-the-counter (OTC) derivatives, an initiative that will conclude in late 2018.
The FSB is also monitoring new and emerging risks, including cybersecurity, misconduct risks, and market-based finance, among other things.
The board has also asked Mark Carney, FSB chairman, to stay on in his role for another year. His term is slated to finish on Nov. 4. Carney has been asked to remain as chair until Dec. 1, 2018.
Separately, the FSB announced the appointment of Dietrich Domanski as its new secretary general for a five-year term, starting in January 2018. Domanski is currently deputy head of the monetary and economic department and head of economic analysis at the Bank for International Settlements (BIS).