This work programme details the FSB’s planned work and provides an indicative timeline of main publications for 2022. The FSB’s work priorities reflect that financial challenges are global in nature and affect the financial system as a whole. These challenges include digitalisation, climate change and potentially also shifts in the macroeconomic and interest rate environment.
Priority areas of work and new initiatives include:
- Supporting international cooperation and coordination on current financial stability issues. Against the backdrop of the Russia-Ukraine conflict and its economic impacts, the FSB is reinforcing its forward-looking monitoring to identify, assess and address new and emerging risks to global financial stability. This enhanced monitoring is informed by the FSB’s new surveillance framework. Work will also continue on policy responses to COVID-19, including: sharing information on policy responses and the timely unwinding of the temporary measures adopted in response to COVID-19, and assessing the effectiveness of those measures; and monitoring, with the standard-setting bodies (SSBs), the use of flexibility within international standards and consistency of policy responses with existing international financial standards.
- Enhancing the resilience of the non-bank financial intermediation (NBFI) sector, while preserving its benefits. The FSB will advance its work programme for strengthening the resilience of NBFI. In addition to the remaining work on specific issues identified in the holistic review of the March 2020 market turmoil, the FSB will also focus on developing a systemic approach to NBFI.
- Enhancing cross-border payments. The FSB will continue to coordinate with the Committee on Payments and Market Infrastructures and other SSBs and international organisations in implementing the FSB roadmap to enhance cross-border payments.
- Harnessing the benefits of digital innovation while containing its risks. The FSB will continue work on the financial stability and regulatory and supervisory implications of technological innovation, with a particular focus on various forms of crypto-assets, including decentralised finance (DeFi). Work will also continue on enhancing operational and cyber resilience.
- Addressing financial risks from climate change. The FSB’s work on addressing climate-related financial risks is guided by its roadmap for addressing climate-related financial risks. The FSB will continue to coordinate international work through the roadmap. The FSB’s own initiatives under its roadmap include building and strengthening the analytical basis for monitoring climate related risks to financial stability; and identifying regulatory and supervisory approaches to address climate-related financial risks.
Indicative timeline of key FSB publications planned for 2022
| Date | Report | |
|---|---|---|
| February | Updated assessment of risks to financial stability from crypto-assets |  1 |
| March | Report on financial resources for CCP resolution | |
| April | Report on USD funding and EME vulnerabilities during the March 2020 turmoil | |
| Identification of regulatory and supervisory approaches to addressing climate-related financial risks – Consultative document | ||
| Thematic peer review report on corporate debt workouts | ||
| June | Development of key performance indicators to monitor progress towards the quantitative targets – Interim Report | |
| Options to improve the adoption of the Legal Entity Identifier (LEI) to enhance cross-border payments | ||
| July | COVID-19 exit strategies to support equitable recovery for financial stability and scarring effects – Interim report | |
| Annual progress report on climate roadmap | | |
| Report on climate-related vulnerabilities and their monitoring | ||
| Report on the use of scenario analysis for climate-related risks | ||
| October2 | Promoting Global Financial Stability: 2022 FSB Annual Report | |
| COVID-19 exit strategies to support equitable recovery for financial stability and scarring effects – Final report | | |
| Report with main findings of NBFI initiatives and policy proposals to address systemic risk in NBFI | | |
| Report on achieving greater convergence for reporting cyber incidents to financial authorities – Consultative document | | |
| Annual report on implementation of the cross-border payments roadmap | | |
| Key performance indicators to monitor progress towards the quantitative targets for the cross-border payments roadmap | | |
| Regulatory and supervisory approaches to addressing climate-related financial risks – Final report | | |
| Report, jointly with NGFS, on the outputs of scenario analysis by jurisdictions | | |
| Report on progress in achieving consistent climate-related financial disclosures | | |
| Progress report on the regulation, supervision and oversight of global stablecoins | | |
| November | Identification of G-SIBs for 2022 | |
| 2022 Resolution Report | ||
| Progress report on benchmark transition3 | ||
| December | Global Monitoring Report on NBFI |
- = G20 Deliverable
- Includes reports that will be delivered to the G20 Summit in November.
- 2022 H2