The FSB Asia group gave an update on its work program and talked about how members may contribute to its work on emerging markets and developing economies while members gathered to discuss these important subjects. Vulnerabilities that need closer observation and recent events in the financial markets were also mentioned.

Six regional consultative groups were established by the Financial Stability Board (FSB) with the aim of bringing together financial authorities from both FSB member and non-member nations to share perspectives on financial system vulnerabilities and financial stability promotion activities. These regional consultative groups, which include the Americas, Asia, the Commonwealth of Independent States, Europe, the Middle East and North Africa, and sub-Saharan Africa, usually get together twice a year.


The group deliberated on strategies to facilitate the adoption of the FSB regulatory framework for crypto-asset operations throughout the area, 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.

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.


The group talked on technical advancements and initiatives inside their different jurisdictions to overcome current cross-border payment frictions.

Lastly, the FSB revealed plans to concentrate on strengthening its study of climate-related financial risks to financial stability and investigating the applicability of transition plans for financial stability, highlighting the topic of climate change as an important area to review. Members talked on how transition planning was influencing their work as supervisors of financial risks associated to climate change.