In any case, what is required in order to strengthen financial surveillance is improved data and methodologies, not an additional review of information which will already be out of date. Furthermore, it is unclear that the FSB has the technical capacity to render a balanced and informed judgment on the adequacy of financial systems.
The fact that the FSB contemplates declaring as “non-cooperative” countries which are fully involved with the FSAP and FATF processes, if taken at face value, implies a totally unjustified lack of confidence in the FSAP process.