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The FSB, jointly with the International Organization of Securities Commissions (IOSCO), published on 4 March 2015 the second consultative document Assessment Methodologies for Identifying Non-Bank Non-Insurer Global Systemically Important Financial Institutions. The two bodies invited comments on the second consultative document by 29 May 2015. About 50 comments were received, mostly on the proposed methodologies for asset management entities, and the FSB and IOSCO are reviewing these comments.
The ongoing work on financial stability risks from asset management activities was set in train in March, and is focused on risks associated with market liquidity and asset management activities in the current conjuncture, as well as potential structural sources of vulnerability associated with asset management activities. This work will evaluate the role that existing or additional activity-based policy measures could play in mitigating potential risks, and make policy recommendations as necessary.
The FSB will discuss the initial findings from the work on asset management activities at its Plenary meeting in September. It will report on this work to the G20 later this year and will develop activities-based policy recommendations as necessary by spring 2016. The FSB, jointly with IOSCO, will then conduct further analysis and finalise the NBNI G-SIFI asset management assessment methodology, with a focus on any residual entity-based sources of systemic risk from distress or disorderly failure that cannot be effectively addressed by market-wide activities-based policies.