Collaboration on the Regulatory Agenda

We help manage the benefits and risks of fintech at the international level through our work on the Financial Stability Board, the International Monetary Fund, the Committee on Payments and Market Infrastructures, and the Basel Committee on Banking Supervision.

The Bank of Canada is not a banking regulator. We have oversight authority only for financial market infrastructures that are designated as systemically important or as prominent payment systems.

The Bank does not have regulatory authority over fintech startups looking to enter the market.

Financial Stability Board

June 6, 2019

FSB report considers implications of decentralised financial technologies

The FSB issued a report looking at the financial stability, regulatory and governance implications of the use of decentralized financial technologies such as those involving distributed ledgers and online peer-to-peer platforms.
February 14, 2019

FSB report assesses FinTech developments and potential financial stability implications

The FSB working group, chaired by Bank of Canada Advisor Stephen Murchison, issued a report that assesses the impact of fintech on the structure of the financial system.
October 10, 2018

FSB sets out potential financial stability implications from crypto-assets

The FSB working group, chaired by Bank of Canada Advisor Stephen Murchison, issued a report that sets out the analysis behind the FSB’s proactive assessment of the potential implications of crypto-assets for financial stability.
July 16, 2018

FSB report sets out framework to monitor crypto-asset markets

The FSB working group, chaired by Bank of Canada Advisor Stephen Murchison, published a report delivered to the G20 Finance Ministers and Central Bank Governors on the work of the FSB and standard-setting bodies on crypto-assets.
November 1, 2017

FSB considers financial stability implications of artificial intelligence and machine learning

The FSB issued a report that considers the financial stability implications of the growing use of artificial intelligence and machine learning in financial services.
June 27, 2017

FSB issues a report on the financial stability implications from FinTech

This FSB press release announces that a working group chaired by Bank of Canada Senior Deputy Governor Carolyn A. Wilkins published a report analyzing the potential financial stability implications of fintech.
December 12, 2016

FSB Regional Consultative Group for the Americas discusses fintech, correspondent banking and regional vulnerabilities

This press release, issued by the Financial Stability Board, announces that a regional consultative group co-chaired by Bank of Canada Senior Deputy Governor Carolyn A. Wilkins discussed the benefits and risks of fintech developments, including the implications of distributed ledger technology and peer-to-peer lending.

International Monetary Fund

March 15, 2017

IMF Managing Director Welcomes Establishment of High Level Advisory Group on FinTech

This press release, issued by the International Monetary Fund, announces the creation of the High Level Advisory Group on FinTech. Bank of Canada Senior Deputy Governor Carolyn A. Wilkins is among the members of the new advisory group.

Committee on Payments and Market Infrastructures

October 18, 2019

Investigating the Impact of Global Stablecoins

This report was issued by the Group of Seven working group on stablecoins, chaired by Benoît Cœuré (Chair of the CPMI). It finds that stablecoins, regardless of size, have implications ranging from anti-money laundering efforts across jurisdictions to operational resilience (including for cyber security), consumer/investor and data protection, and tax compliance. Global stablecoins may amplify those challenges and could also pose challenges to competition policy, financial stability, monetary policy and, in the extreme, the international monetary system.
March 12, 2018

Central Bank Digital Currencies

A report issued by the Bank for International Settlements’ Committee on Payments and Market Infrastructures analyzes two types of central bank digital currencies and how central banks must carefully weigh the implications for financial stability and monetary policy of issuing digital currencies available to the general public.
February 27, 2017

Distributed Ledger Technology in Payment, Clearing and Settlement—an Analytical Framework

This report issued by the Bank for International Settlements’ Committee on Payments and Market Infrastructures provides an analytical framework for central banks and other authorities to review and analyze the use of distributed ledgers in payment, clearing and settlement activities.
November 8, 2016

Fast Payments—Enhancing the Speed and Availability of Retail Payments

A report issued by the Bank for International Settlements’ Committee on Payments and Market Infrastructures. So-called fast payment services make funds immediately available to the payee and can be used around-the-clock, on a 24/7 basis. As such, they overcome the limitations of traditional retail payment services, namely that usually the funds reach the beneficiary one or more days after the funds are debited in the payer's account, and that these can be initiated only in certain places at certain times.
November 23, 2016

Digital Currencies

A report issued by the Bank for International Settlements’ Committee on Payments and Market Infrastructures. Digital currencies, and especially those which have an embedded decentralized transfer mechanism based on the use of a distributed ledger, are an innovation that could have a range of impacts on various aspects of financial markets and the wider economy. These could include potential disruption to business models and systems, as well as facilitating new economic interactions and linkages.