FSB maps cross-border stablecoin vulnerabilities, flags gaps in monitoring data

The Financial Stability Board has published a note summarising its monitoring work on global stablecoin arrangements. It sets out how these arrangements are structured, how vulnerabilities could propagate across borders, which metrics could support financial stability monitoring, and what data is actually available today. For compliance and policy teams tracking the FSB crypto framework, it signals where supervisory attention and data demands are heading.

• FSB argues a single jurisdiction cannot fully assess or address cross-border vulnerabilities in global stablecoin arrangements that span multiple entities and authorities.
• The note analyses arrangement structure, vulnerability propagation, and metrics for financial stability monitoring, plus the benefits and limitations of available data sources.
• Delivered by FSB Chair Andrew Bailey on 12 October 2026 alongside finalised sound practices on AI adoption.