On June 11, Deputy Governor Lu Lei attended the Financial Stability Board (FSB) Plenary Meeting held in Madrid, Spain. Members approved the appointment of Andrew Bailey, Governor of the Bank of England, as the next FSB chair, and discussed vulnerabilities in the global financial system, as well as issues related to non-bank financial intermediation, crypto-assets, climate-related financial risks, and resolution.
On the margins of the Meeting, Deputy Governor Lu expressed deep appreciation to Mr. Klaas Knot, the outgoing Chair of the FSB, for the effective leadership and prominent contributions during his tenure, and extended warm congratulations to Mr. Andrew Bailey on his appointment as the next FSB Chair. Deputy Governor Lu also met with Mr. Ryozo Himino, Chair of the FSB Standing Committee on Standards Implementation and Deputy Governor of the Bank of Japan, and exchanged views on implementation of global financial regulatory standards and country peer review, along with other topical issues.
