We are seeing some savers change their preferences, opting for instruments such as green bonds or social bonds. Central banks are also playing an increasing role, not only through their financial portfolios, but also through their actions as regulators and supervisors.
As we emerge from the acute phase of the COVID event, the FSB’s focus is shifting from crisis management to addressing forward-looking issues. At an event last October, I spoke about some of the lessons of the COVID event for the U.S. financial system. Today, speaking as FSB Chair, I’d like to reflect on the role the FSB played.