Financial Stability Board

The fund would cover systemically important financial firms that are "too big to fail", such as major banks and insurers

Global banking generated $6.5 trn as revenue in 2022: Fintech had 5% of the same. But by 2028, fintech revenues are expected to grow three times faster

Investments in resources, technology, and personnel would be necessary to ensure compliance

Briefing reporters in Marrakesh, Finance Minister Nirmala Sitharaman said the roadmap on crypto assets is the big step forward that came from the FMCBG discussion

Central banks should avoid holding crypto assets in their official reserve as they pose a risk to monetary and global financial stability, according to the synthesis paper

On international taxation, the sources state that India under the G20 Presidency has recommended
a pillar taxation system on
international taxation

Authorities should, to the extent necessary, achieve regulatory outcomes comparable to those in traditional finance, the FSB said

"As recent events have illustrated, if linkages to traditional finance were to grow further, spillovers from cryptoasset markets into the broader financial system could increase," the FSB said

The country has been making its voice heard through the Financial Stability Board

Currently, the GIH's work is limited to acting as a knowledge sharing hub, to produce data and insights that inform policy and infrastructure delivery

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

Discussed scenario emerging from second wave and various inter-regulatory issues; reviewed activities of various technical groups under its purview

Companies singled out for scrutiny are required to hold extra capital to cover potential losses. The shift in the FSB's approach is from the US treasury department

Says steps have been taken in recent years to develop the country's macroprudential policy framework