The meeting covered:
- FSB’s 2022 work priorities;
- Financial market developments following the Russia-Ukraine conflict, including elevated and volatile commodity prices.;
- Continuing economic recovery from COVID-19 and higher inflation;
- Key challenges of high costs, low speed, limited access and insufficient transparency of cross-border payments;
- Discussion of 3 key priority items of specific relevance to Sub-Saharan Africa members:
- Climate-related financial risks;
- Cross-border payments; and
- Crypto-assets.
Members received an update on progress relating to climate-change under the roadmap, including
- Strengthening supervision and regulation;
- Enhancing disclosures; and
- Addressing data gaps.
Members further discussed the financial stability, regulatory and supervisory implications of crypto-assets, including issues raised both by ‘stablecoins’ and by ‘unbacked’ crypto-assets, and shared views on the challenges they pose for regulators and policymakers.
