The recent gathering of the Financial Stability Board (FSB) Plenary took place in Toronto on June 14, focusing on a range of crucial financial stability matters. Among the key topics were the assessment of financial stability prospects, insights gained from the banking crisis in March 2023, and strategies to strengthen the resilience of non-bank financial intermediaries (NBFI). Furthermore, the FSB conducted a comprehensive review of the advancements made in the implementation of its worldwide regulatory framework for activities involving crypto assets. Members highlighted the importance of widespread global adherence to minimize the risks of regulatory arbitrage within the crypto sector, especially in emerging markets and developing economies (EMDEs). In addition, the FSB deliberated on the difficulties presented by global stablecoin arrangements in these regions, along with discussions on the implications of financial risks stemming from environmental factors.
