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Chair's Summary – 1st G20 Finance Ministers and Central Bank Governors Meeting

Annex 1

São Paulo, February 29, 2024
[PDF]

The list in this Annex registers the key priorities proposed by the Brazilian G20 Presidency for each G20 workstream, building on legacy work and previous accomplishments. The Annex also recognizes essential contributions requested or expected from key International Organizations (IOs). The list is non-exhaustive and other contributions may be requested from IOs and knowledge partners in the course of 2024. We thank our valuable partners and look forward to their contributions.

FWG – Framework Working Group

Priorities:

Key IOs invited to contribute: BIS; ECLAC; FSB; IDB; ILO; IMF; NGFS; OECD; UNCTAD; World Bank.

IFAWG - International Financial Architecture Working Group

Priorities:

Key IOs invited to contribute: ADB; AfDB; AIIB; BIS; EBRD; EIB; FATF; FSB; Heads of MDBs Group; IDB; IIF; IMF; IsDB; NDB; OECD; UNCTAD; UNDESA; World Bank.

IWG – Infrastructure Working Group

Priorities

Key IOs invited to contribute: AIIB; EBRD; GIF; IDB; IMF; OECD; World Bank.

SFWG – Sustainable Finance Working Group

Priorities:

Key IOs invited to contribute: AIIB; BIS; ECLAC; FSB; IDB; IEA; IIF; ILO; IMF; IOSCO; OECD; UNCTAD; UNDESA; UNDP; UNEP; World Bank.

GPFI – Global Partnership for Financial Inclusion

Priorities:

Key IOs invited to contribute: BTCA; CGAP; IFC; OECD; UNSGSA; World Bank.

JFHTF – Joint Finance and Health Task Force

Priorities:

Key IOs invited to contribute: UNCTAD; WHO; World Bank.

International Taxation

Priorities:

Key IOs invited to contribute: ECLAC; FATF; IMF; OECD; UN; UNDESA; World Bank.

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Annex

This Annex lists contributions to Financial Sector Issues

Climate-related Financial Risks

FSB – deliver a stocktaking of regulatory and supervisory initiatives associated with identification and assessment of nature-related financial risks, including to investigate the perception of central banks and supervisors regarding whether the risk of biodiversity loss is a relevant financial risk.

FSB – deliver a further report on progress in achieving consistent climate-related financial disclosures.

Digital Innovations

FSB, in collaboration with IMF, World Bank, FATF and other SSBs – work on the implementation of the G20 Roadmap on Crypto Assets and deliver the first status report on the Roadmap.

FSB – work on a report on the financial stability implications of AI.

FATF – work to accelerate global implementation of FATF standards to address money laundering, terrorist financing, and proliferation financing risks in the crypto sector; and review the impact on financial integrity of emerging technologies and innovations including tokenization and CBDCs.

FSB – deliver a report on the financial stability implications of the tokenization of assets.

BIS and CPMI – deliver a report examining the meaning of tokenization in the context of money and other assets, and how to envision a tokenized environment that builds on the best attributes of the current monetary and financial system, while discussing potential future implications.

Cross-border Payments

FSB, in collaboration with BIS CPMI and other international organizations – deliver a progress report on the G20 Roadmap for Enhancing Cross-Border Payments.

FSB – deliver a cross-border payments quantitative targets progress report.

FATF – develop and adopt updated standards for payment transparency.

FATF – work on implementation of the revised standards on Beneficial Ownership transparency for legal persons and legal arrangements, and of the strengthened rules for asset recovery.

BIS CPMI – deliver a framework on the governance and oversight of cross-border fast payment systems interlinking arrangements and to deliver recommendations for greater harmonization of application programming interfaces (APIs) used in cross-border payments.

IMF – deliver a report on the macro-financial policy implications of cross-border payment platforms.

Work post-March 2023 banking turmoil

BCBS – deliver a progress report on its follow-up work to the 2023 banking crisis.

FSB – produce a report summarizing the work on interest and liquidity risk and on depositor behavior and the role of technology and social media.

Non-Bank Financial Intermediation

FSB – deliver the final report with the recommendations to address structural vulnerabilities from liquidity mismatch in open-ended funds.

FSB – deliver the annual progress report on enhancing resilience in NBFI.

Cyber Risk

FSB – deliver the consultation report on format for incident reporting exchange (FIRE).

Financial Stability

FSB – deliver its the Annual Report to the G20 on its work to promote global financial stability.

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Annex III: Reports and Documents Received

Global Economy

International Taxation

Financial Sector Issues

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Source: Official website of Brazil's 2024 G20 presidency


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