FSB Chair Addresses G20 Finance Ministers on Global Financial Risks

A letter from Andrew Bailey, Chair of the Financial Stability Board (FSB), was sent to G20 Finance Ministers and Central Bank Governors in advance of their meeting scheduled for 15 October 2026.

In his letter, Bailey emphasizes the need for ongoing vigilance regarding various risks to the global financial system. He highlights concerns such as increased volatility in sovereign bond markets, vulnerabilities in private credit markets, and the potential risks associated with artificial intelligence (AI).

The letter also outlines several reports that the FSB is presenting to the G20, including:

- Cross-border Vulnerabilities and Financial Stability Monitoring of Global Stablecoin Arrangements, released concurrently with the letter;

- Thematic Review on Public Sector Backstop Funding, issued on 9 October;

- Sound Practices for the Responsible Adoption of AI;

- Consultation Report on Regulatory and Supervisory Modernisation;

- G20 Implementation Monitoring Review Report.