06 March 2017
Cape Town
Reporter: Mark Dugdale

FSB fills vacant committee positions

The Financial Stability Board (FSB) made two key appointments at its Cape Town meeting at the end of February as it embarks on the next stage of its reform programme.

South African Reserve Bank governor Lesetja Kganyago was named chair of the standing committee on standards implementation, while Hong Kong Monetary Authority chief executive Norman Chan was handed the role of chair of the standing committee on supervisory and regulatory cooperation.

Both roles are for two-year terms beginning 1 April. Kganyago and Chan take over from the Monetary Authority of Singapore’s Ravi Menon and former US Federal Reserve governor Daniel Tarullo.

The FSB is set to reveal the results of reviews of two reform programmes at the G20 finance ministers’ and governors’ meeting in Baden Baden between 17 and 18 March.

These will include the results of a review of the evolution of shadow banking risks since the financial crisis and the adequacy of monitoring and policy tools put in place to address them, as well as a review of the implementation of over-the-counter derivatives markets reforms.

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