FSB advances policy work and extends Chair’s term at Hong Kong plenary
The Financial Stability Board (FSB) Plenary has convened in Hong Kong to discuss various issues impacting global financial stability. Key topics included the financial outlook, climate-related financial risks, cross-border payments, and non-bank financial intermediation (NBFI). The FSB's work programme for 2025 was confirmed, with a focus on policy implementation and international coordination. Klaas Knot's term as FSB Chair was extended until 1 July 2025, and the process for selecting a new Chair was discussed. The FSB plans to issue its next progress report on the roadmap in mid-2025.