The Financial Stability Board (FSB) recently published its 2026 work programme, emphasizing the importance of strengthening global financial stability while remaining responsive to emerging risks.
Among the FSB’s key priorities for 2026 is the modernization of financial regulation and supervision. The FSB notes that many member jurisdictions are reviewing whether their regulatory and supervisory policies remain well-suited to changes in the financial system and support sustainable economic growth.
In response, the FSB will conduct a stocktake of member initiatives and then carry out follow-up work informed by those findings, with the aim of promoting well-aligned modernization outcomes globally. The FSB will also conduct supervisory workshops, targeted work on audit quality, and annual work related to global systemically important banks (G-SIBs) and insurance.
The FSB will also continue its vulnerability assessments, including semi-annual notes, Early Warning Exercises, and a report on private credit, while exploring new areas such as foreign exchange derivatives and private finance. Efforts on nonbank financial intermediation will focus on improving methodologies for assessing vulnerabilities and data quality, as well as follow-up on prior recommendations, including those for money market funds (MMFs) and open-ended funds (OEFs).
Digital innovation and operational resilience remain priorities as well. In 2026, the FSB will monitor crypto-assets, assess stablecoin vulnerabilities, and promote sound AI practices, alongside public-private collaboration to prepare for major operational disruptions. Cross-border payments, crisis preparedness, and resolution work will continue, including a focus on backstop funding mechanisms and operationalization of resolution tools. Implementation monitoring and evaluations, including country reviews of China and Turkey, will support follow-through on recommendations and help identify gaps.
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