To advance this, the FSB has published two consultative reports with recommendations: One report that reviews the FSB's high-level recommendations of October 2020 for the regulation, supervision, and oversight of "global stablecoin" arrangements, and which has proposed revisions to strengthen the recommendations in light of recent developments.6 And another report which has focussed on broader crypto-asset activities and markets and proposes recommendations that seek to promote the consistency and comprehensiveness of regulatory, supervisory and oversight approaches to crypto-asset activities and markets.7 It also proposes strengthening international cooperation, coordination and information-sharing.
From this year on we have accountability to provide the public more detailed explanations of our inflation targeting operations. We will therefore have to fulfill this responsibility faithfully, and by doing so will ensure enhanced public understanding of and confidence in our monetary policy.