FSB: Financial stability implications from fintech

FSB’s report identifies 10 areas that merit authorities’ attention with regard to supervisory and regulatory issues (the first three of which are seen as priorities for international collaboration): managing operational risk from third-party service providers; mitigating cyber risks; monitoring macrofinancial risks; cross-border legal issues and regulatory arrangements; governance and disclosure frameworks for big data analytics; assessing the regulatory perimeter and updating it on a timely basis; shared learning with private sector parties; developing open lines of communication across relevant authorities; building staff capacity in new areas of required expertise and studying alternative configurations of digital currencies. FSB intends to continue to monitor the potential financial stability implications of fintech developments.