The Financial Stability Board (FSB) today published a letter from Mark Carney, Chair of the FSB, which was sent to G20 Finance Ministers and Central Bank Governors ahead of their meeting in Chengdu on 23-24 July.
In the letter, the FSB Chair notes that, thus far this year, the global economy and financial system have weathered two spikes in uncertainty and risk aversion. In both cases, the global financial system continued to function effectively, and the financial system dampened aftershocks from these events rather than amplifying them. This resilience in the face of stress demonstrates the enduring benefits of G20 post-crisis reforms. It also reinforces the importance of finishing the job of implementing these reforms.
The letter outlines the progress the FSB is making in advancing its priorities for 2016:
Alongside these current priorities, the FSB is also:
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