The Financial Stability Board (FSB) published a letter from its new Chair, Andrew Bailey, to G20 Finance Ministers and Central Bank Governors setting out his strategic priorities and reinforcing the need for international coordination to safeguard financial stability. Bailey highlights three priorities for the FSB: enhancing surveillance capabilities, addressing key risks to financial stability, and strengthening the effectiveness of the FSB. The letter points to work across the FSB’s agenda, including improving data used by authorities to monitor vulnerabilities, promoting better cross-border payment services, analysing potential climate-related impacts on the financial system, and tackling the destabilising effects that leverage can have. It also flags the need for vigilance against disruptive market moves as uncertainty continues to weigh on growth expectations, and calls for continued global cooperation amid geopolitical tensions and rising fragmentation risk. The letter was submitted ahead of the G20 meeting in Durban on 17–18 July 2025, following Bailey’s assumption of the FSB Chair role on 1 July 2025.
Financial Stability Board 2025-07-14
Financial Stability Board Chair Andrew Bailey sets priorities for the FSB in a letter to the G20
FSB Chair Andrew Bailey outlined strategic priorities in a letter to G20 Finance Ministers and Central Bank Governors, emphasizing international coordination for financial stability. Priorities include enhancing surveillance, addressing financial stability risks, and strengthening FSB effectiveness, focusing on data improvement, cross-border payments, climate impacts, and leverage effects. The letter, submitted ahead of the G20 meeting in Durban, also stresses vigilance against market disruptions amid geopolitical tensions.