Financial Stability Board
Regulation, Supervision and Oversight of “Global Stablecoin” Arrangements: Progress Report on the implementation of the FSB High-Level Recommendations
October 7, 2021: The FSB published a report on the progress made toward implementing its high-level recommendations for regulation, supervision and oversight of global stablecoin arrangements. The report provides a comprehensive review of how these recommendations were implemented in 48 jurisdictions.
October 13, 2020: The FSB issued a report that sets out high-level recommendations for the regulation, supervision and oversight of “global stablecoin” arrangements.
Addressing the regulatory, supervisory and oversight challenge raised by “global stablecoin” arrangements: Consultative document
April 14, 2020: The FSB published for consultation 10 high-level recommendations to address the regulatory, supervisory and oversight challenges raised by “global stablecoin” arrangements.
April 9, 2020: The FSB published the Stage 1 report of its project to develop a roadmap to enhance cross-border payments. This report, which is being delivered to the G20, provides an assessment of existing arrangements and challenges for global cross-border payments.
October 18, 2019: The FSB published a note on regulatory issues of stablecoins. The paper was delivered to G20 Finance Ministers and Central Bank Governors for their meeting in Washington D.C. It responds to the G20 Leaders’ Osaka Declaration, which noted the importance of monitoring developments in crypto-assets and remaining vigilant to existing and emerging risks.
Decentralised financial technologies: Report on financial stability, regulatory and governance implications
June 6, 2019: 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.
FinTech and market structure in financial services: Market developments and potential financial stability implications
February 14, 2019: 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: 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: 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: 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: 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.
FSB Regional Consultative Group for the Americas discusses fintech, correspondent banking and regional vulnerabilities
December 12, 2016: 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: 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.
Bank for International Settlements
BIS Innovation Hub
September 30, 2021: This report issued by seven central banks and the Bank for International Settlements (BIS) summarizes progress made since publishing a report in October 2020 setting out the common foundational principles and core features of a CBDC.
October 9, 2020: This report issued by seven central banks and the Bank for International Settlements (BIS) outlines foundational principles and core features of CBDCs that would allow central banks to deliver their public policy objectives.
Committee on Payments and Market Infrastructures
July 9, 2021: This joint report issued by the Bank for International Settlements’ Committee on Payments and Market Infrastructures, the BIS Innovation Hub, the International Monetary Fund (IMF) and the World Bank analyzes how CBDCs could enhance cross-border payments and how practical efforts are taking these considerations forward. It also highlights the need for multilateral collaboration on macro-financial consequences and interoperability.
July 13, 2020: This report issued by the Bank for International Settlements’ Committee on Payments and Market Infrastructures sets out the necessary elements to improve cross-border payments to make them faster, cheaper, more transparent and inclusive. It forms part of a three-stage process initiated by the G20.
October 18, 2019: 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: 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: 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 23, 2016: 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.
November 8, 2016: 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.