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Financial system vulnerable to shocks due to partial reforms, FSB chair warns

By Neil Roland ( October 13, 2025, 08:01 GMT | Insight) -- The global financial system is vulnerable to shocks due to incomplete reform implementation, Financial Stability Board Chief Andrew Bailey said. In a letter to the Group of 20 economic powers, Bailey said the impetus to carry out 2007-2008 Global Financial Crisis reforms may be lagging, leaving important improvements such as the Basel III framework incomplete.The financial system is vulnerable to shocks due to incomplete reform implementation, including Basel III, Financial Stability Board Chief Andrew Bailey said....

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