MNI POLICY: Financial Stability Board Urges Reg Flexibility

By Evan Ryser

     WASHINGTON (MNI) - International regulators should use built-in flexibility

in financial system rules to help keep funds flowing to the economy during the

coronavirus epidemic, the Financial Stability Board said on Friday.

     "The FSB encourages authorities and financial institutions to make use of

the flexibility within existing international standards to provide continued

access to funding for market participants and for businesses and households

facing temporary difficulties from COVID-19," the FSB said in a statement.

     The FSB said authorities and financial institutions should "ensure that

capital and liquidity resources in the financial system are available where they

are needed." 

     The FSB, which monitors and makes recommendations about the global

financial system, is chaired by U.S. Federal Reserve Vice Chair Randal Quarles. 

--MNI Washington Bureau; +1 202 371 2121; email: evan.ryser@marketnews.com

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