It also introduces the reports the FSB is submitting to the G20 addressing these issues, including;

The financial stability implications of tokenisation. This report outlines the "steps authorities and international bodies should consider to address data gaps in monitoring tokenisation adoption; increase understanding of how its features fit into legal and regulatory frameworks and supervisory approaches; and facilitate cross-border information sharing."

The status report on the G20 Cryptoasset Policy Implementation Roadmap. This report outlines the "progress made by jurisdictions in implementing the global regulatory framework for cryptoasset policy and regulatory responses developed by the IMF, FSB and standard-setting bodies."

A video of the speech is also available here.

One area of focus is "harnessing the benefits of digital innovation while containing its risks." The FSB will take forward implementation of its global regulatory and supervisory framework for cryptoasset activities and continue to monitor the financial stability implications of other digital innovations, including tokenisation and artificial intelligence.

Other priority areas of work include:

• Supporting global cooperation on financial stability
• Completing resolution reforms
• Enhancing the resilience of non-bank financial intermediation (NBFI)
• Enhancing cross-border payments
• Enhancing cyber and operational resilience
• Addressing financial risks from climate change

The priorities for the FSB’s work include: (i) enhancing the resilience of the non-bank financial intermediation sector; (ii) advancing work on the global regulatory and supervisory framework for cryptoasset markets and activities; (iii) addressing financial risks from climate change; (iv) enhancing cross-border payments; (v) strengthening cyber and operational resilience; and (vi) financial innovation. The finalised work programme will be published in early 2024.

The report, which was delivered to G20 Finance Ministers and Central Bank Governors ahead of their meeting in Marrakesh, Morrocco, provides an overview of the FSB’s work to assess and address current and emerging vulnerabilities including:

• The finalisation of a global regulatory framework for cryptoassets, including stablecoins
• Work to address systemic risk in non-bank financial intermediation
• The development of a global standard for financial resources and tools to support resolution of systemically important central counterparties
• Work under the FSB Roadmap for Addressing Climate-related Financial Risks, including promotion of the timely and wide use of global sustainability disclosure standards
• Work to achieve greater convergence in cyber incident reporting and the development of a policy toolkit for authorities, financial institutions and service providers for their third-party risk management and oversight
• Work to enhance cross-border payments through practical projects, including strengthened partnerships with the private sector.