Financial Stability Board

Financial Stability Board Says Remote Workforce Fuels Cyberattacks

Reuters | |

Financial firms may need to bolster their defenses in the face of rocketing cyber attacks after employees began working from home, the Financial Stability Board (FSB) said on Tuesday.

The FSB, which coordinates financial rules for the G20 group of nations, said remote working since economies went into lockdown to fight COVID-19 opened up new possibilities for cyber attacks. Working from home (WFH) is expected to stay in some form across the financial services industry and beyond.

Financial Stability Board Releases Roadmap for Climate-Related Risk Management

Reuters | |

Global regulators published a blueprint on Wednesday to give a "sense of direction" to proliferating initiatives for tackling climate-related financial risks before they fragment markets.

The Financial Stability Board (FSB), which coordinates financial rules for the G20 group of nations, said its "roadmap" seeks to coordinate approaches to disclosures by companies and plug gaps in the data needed to spot financial stability "vulnerabilities" and develop tools to address them.

Financial Stability Board Eases Capital Requirements on JPMorgan Chase

Reuters | |

JPMorgan is no longer the world’s most systemically-important bank, according to rankings for additional capital requirements published by the Financial Stability Board on Wednesday.

After banks had to be rescued by taxpayers in the financial crisis over a decade ago, regulators have ranked the world’s most important banks in a series of capital “buckets” according to their size, international reach and complexity.

JPMorgan had been alone in having to hold extra capital equivalent to 2.5% of its assets on a risk-weighted basis out of the 30 top banks listed by the FSB, which coordinates financial rules for the Group of 20 Economies (G20).

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