The Financial Stability Board (FSB), at its virtual plenary meeting on October 18, 2021 appointed the chairs of two of its Standing Committees and the Resolution Steering Group, following the completion of its previous chairs' terms.

The decision stipulated the appointment of H.E. Fahad Almubarak, governor of the Saudi Central Bank (SAMA) as the new chair to the Standing Committee on Standards Implementation (SCSI), as from October 19, 2021. The SCSI undertakes FSB peer reviews of its members, encourages global adherence to international financial standards and reports on members' progress in implementing these standards and other agreed G20 and FSB commitments.

The FSB's decision stipulated as well the appointment of Mr. Andrew Bailey, governor of the Bank of England as the new chair to the Standing Committee on Supervisory and Regulatory Cooperation (SRC), as from October 19, 2021. The SRC addresses key financial stability risks related to the development of supervisory and regulatory policy and coordinates issues that arise among supervisors and regulators to ensure effective consideration of cross-sector implications. It was also decided to appoint Ms. Jelena McWilliams, chairman of the Federal Deposit Insurance Corporation as the new chair to the Resolution Steering Group (ReSG), as from the first of November, 2021. The ReSG leads the FSB's work on resolution regimes, resolution planning and resolvability assessments for all sectors.