The Financial Stability Board has published a consultation report setting out 12 sound practices intended to help financial institutions adopt artificial intelligence responsibly. The proposed practices focus on AI-specific issues that matter for firms and for financial stability, and are framed as a non-binding toolkit for boards and senior management to use in business strategy, technology adoption, and risk management rather than as a new international standard or a prescriptive rule set. The proposed practices cover three areas: organisation-wide AI governance, management and mitigation of risks across the stages of AI development and deployment, and AI-related cyber, information and communication technology, and third-party risks. The FSB says the package builds on and is broadly compatible with its existing work and that of other standard-setting bodies, and is intended to support coordination, cooperation, and information-sharing among financial institutions and supervisors across jurisdictions. It also notes that the practices were not developed specifically to address recently emerged risks linked to frontier AI models, although some would help firms respond to those risks. Comments are invited until 22 July 2026, and the FSB plans to publish the final report in October 2026.

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