Financial Stability Board Weighs Distributed Ledger Risks
The Financial Stability Board (FSB), an international body aimed at improving the global financial system, reviewed distributed ledger technology as part of a meeting to set its 2016 priorities this week in Tokyo. The FSB said it proposed a framework for categorizing financial technologies, including distributed ledgers, and assessing their impact on global financial stability. The topic was reviewed along other, broader priorities for the organization, which included promoting a more robust financial infrastructure and addressing new vulnerabilities in the financial system. The official....
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The Financial Stability Board has discussed and reviewed distributed ledger or blockchain technology in a wider meeting covering its priorities in 2016, during a discussion in Tokyo over the past two days. The Financial Stability Board (FSB), a common platform that sees the coming together of senior policy makers from central banks, ministries of finance and other supervisory and regulatory authorities from G20 nations has revealed that it has reviewed distributed ledger technologies in a meeting. Held over the last two days in Tokyo, Japan, the meeting was to review the international....
An international body of regulators and government officials created in the wake of the 2008 financial panic is expanding its work on blockchain. Since as early as last year, the Financial Stability Board has been researching the tech and its impact on the global financial system. The most recent update from the group was in July, when it said it was exploring “possible steps to address potential risks” related to digital currencies. In a 3rd November speech at the Chatham House Banking Revolution Conference, FSB secretary general Svein Andresen suggested that the organization was....
The Financial Stability Board (FSB), an international body composed of central bank officials and finance regulators, said in its latest annual report that it continues to assess opportunities and risks related to digital currencies. The report, published earlier this week, indicated that the FSB’s work is largely in line with previous statements from the organization. In March, the group said that it was actively discussing the technology and its impact on the financial system. The report states: "The FSB's continued work in this area will consider both the risks and opportunities....
The Financial Stability Board (FSB), a group of central bank governors and financial regulators from the world’s major economies, has begun working on blockchain technology issues. The work was disclosed in a speech given by Subhash Sheoratan Mundra, the deputy governor of the Reserve Bank of India, the country’s central bank. Mundra, who was speaking at a regional banking conference on 4th February, brought up digital currencies and blockchain technology in the context of competition in payments from non-bank entities. Declaring that “a massive disruption is possible”, Mundra went on to....
"This does not mean the SNB is not interested in CBDC, but our focus is to look at the role that wholesale CBDCs could play," said Andréa Maechler. Andréa Maechler, a member of the governing board for the Swiss National Bank, or SNB, has reportedly altered her position on the central bank issuing a digital franc. According to a Tuesday report from Reuters journalist John Revill, Maechler said officials at the country’s central bank “believe the risks outweigh the benefits” when it comes to CBDCs. The governing board member said having the general public use a digital franc in day-to-day....