Members talked about recent changes in the financial markets and weaknesses that needed greater observation. Members also talked about how they could support the FSB's work on developing economies and emerging markets after hearing an update on the organization's work schedule. The group deliberated on strategies to encourage the adoption of the FSB regulatory framework for crypto-asset operations throughout the region, as well as current advancements in artificial intelligence, its expanding application in the financial industry, and its consequences for the stability of the financial system.

Members discussed the advancements being made in the area to mitigate the financial risks associated with climate change. The FSB's priorities for this year are to investigate the applicability of transition plans for financial stability and to further analyze the financial risks to financial stability associated with climate change.Members talked on how transition planning was influencing their work as supervisors of financial risks associated to climate change.

The advancement of cross-border payments and the main obstacles to making them quicker, less expensive, more transparent, and inclusive were also covered by the members. The G20 Roadmap has shifted the FSB's work into a new phase that is more implementation-focused and involves initiatives to improve collaboration with the private sector.1. The group talked on efforts, including technical advancements, being made in their respective jurisdictions and around the region to overcome the current cross-border payment frictions. The committee also discussed areas in which increased cooperation between the public and private sectors could be most advantageous for the area.

Eddie Yue, the chief executive of the Hong Kong Monetary Authority, and P Nandalal Weerasinghe, the governor of the Central Bank of Sri Lanka, co-chair the FSB RCG Asia. Australia, Brunei Darussalam, Cambodia, China, Hong Kong Special Administrative Region, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Pakistan, Philippines, Singapore, Sri Lanka, Thailand, and Vietnam are among the financial authorities that are members of RCG Asia.

Established by the FSB Charter, the six Regional Consultative Groups allow financial authorities from both FSB member and non-member nations to share insights on financial system vulnerabilities and measures aimed at promoting financial stability.2. Every Regional Consultative Group convenes twice a year on average.

In the interest of financial stability, the FSB develops and encourages the implementation of efficient regulatory, supervisory, and other financial sector policies. It also coordinates the activities of national financial authorities and international standard-setting bodies at the global level. It brings together international financial institutions, sector-specific international groups of regulators and supervisors, committees of central bank experts, and national authorities in charge of financial stability across 24 nations and territories. The Financial Services Bureau carries out outreach to over seventy other jurisdictions via its six Regional Consultative Groups.

Klaas Knot, President of De Nederlandsche Bank, presides over the FSB. The Bank for International Settlements is the host organization for the FSB Secretariat, which is situated in Basel, Switzerland.