The Financial Stability Board has published a consultation report setting out 12 sound practices to support the responsible adoption of artificial intelligence by financial institutions. The proposed toolkit focuses on AI-specific issues and risks relevant to firms and to financial stability, and is intended to guide boards and senior management as they consider business strategy, technology adoption and risk management in a more AI-enabled environment. The practices are grouped into three areas: organisation-wide AI governance, management and mitigation of AI risks across the development and deployment lifecycle, and management of AI-related cyber, information and communication technology, and third-party risks. The FSB says the practices build on and are broadly compatible with existing work by the FSB and other standard-setting bodies. They are not intended to create an international standard, impose a prescriptive approach or steer firms toward particular AI technologies. The report also does not seek to address newly emerging risks from frontier AI models, although some practices could help institutions respond to those risks. Comments are invited until 22 July 2026, with a final report due in October 2026. As part of the consultation, the FSB will hold a virtual outreach event on 7 July 2026 from 13:00 to 15:00 CEST to brief stakeholders and gather preliminary views on the proposals.

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