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FSB to discuss social media’s role in bank stability at G20



The Financial Stability Board (FSB) will present key findings to the G20 in October on social media’s impact on bank stability. This follows the Silicon Valley Bank incident where social media played a role in accelerating a USD42bn withdrawal within 10 hours. FSB Secretary General John Schindler stressed the importance of understanding deposit dynamics, social media’s influence, and new technologies like mobile banking. The FSB is considering measures such as liquidity buffers to enhance financial resilience. Additionally, the FSB will review its policies on bank resolutions, highlighted by last year’s Credit Suisse takeover. The board is also examining leverage in non-bank institutions and environmental financial risks, setting the stage for significant regulatory discussions at the G20.

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