The People's Bank of China reported that Deputy Governor Lu Lei attended the Financial Stability Board (FSB) plenary meeting in Madrid, where members approved Bank of England Governor Andrew Bailey to take over as FSB chair. The meeting also discussed vulnerabilities in the global financial system, non-bank financial intermediation, crypto-assets, climate-related financial risks and risk resolution. During the meeting, Lu expressed appreciation to outgoing chair Klaas Knot and congratulated Bailey on his election. Lu also met Ryozo Himino, chair of the FSB Standards Implementation Committee and deputy governor of the Bank of Japan, to exchange views on implementation of international financial regulatory standards and country peer reviews.
Central Bank of the Republic of China 2025-06-13
People's Bank of China deputy governor attends Financial Stability Board plenary as Andrew Bailey approved to succeed Klaas Knot as chair
The People's Bank of China announced that Deputy Governor Lu Lei attended the Financial Stability Board plenary meeting in Madrid, where Andrew Bailey was approved as the new chair. Discussions covered global financial system vulnerabilities, non-bank financial intermediation, crypto-assets, and climate-related financial risks. Lu also met with Ryozo Himino to discuss international financial regulatory standards and peer reviews.