There has been published a letter from Mark Carney, chairman of the Financial Stability Board (FSB), to Michael Cross, the chairman of the London Foreign Exchange Joint Standing Committee (FX Committee).
In his letter Mr Carney asks for the assistance of the FX Committee in monitoring market participants’ progress in implementing the FSB’s recommendations for reforms to FX benchmarks and associated market activity. Furthermore, Mr Carney asks if the FX Committee could provide a report to the FSB secretariat by 31 July 2015. The report will assist the FSB which will publish an assessment of progress in implementing the recommendations ahead of the G20 Leaders’ Summit in November 2015.
View FSB letter to London Foreign Exchange Joint Standing Committee, 20 March 2015