Financial markets

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Inclusiveness and Finance

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Tokenisation of Assets and Potential Implications for Financial Markets

The tokenisation of assets involves the digital representation of real assets on distributed ledgers, or the issuance of traditional asset classes in tokenised form. Asset tokenisation has become one of the most prominent use-cases of distributed ledger technologies in financial markets, for assets including securities, commodities and other non-financial assets, and with potential cross-cutting implications for financial market practices and participants, market infrastructure and regulators across a large range of financial instruments and asset classes.
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Committee on Financial Markets Meeting

24/10/2019 The Committee on Financial Markets met on 24-25 October, following the meeting of its Experts Group on Financial and Digitalisation on the 23rd. Highlights included presentations from the Secretariat, Bank of England, Bank of Japan, Federal Reserve, and ECB as well as a discussion on housing finance risks based on the Secretariat’s note. The CMF agreed to move forward work on several fronts, including additional work on stablecoins, productivity and housing issues, and eventual publication of papers on tokenisation and ESG investing.
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2019 Tokyo Roundtable on Financial Markets

26-27 February 2019 - The 2019 Tokyo Roundtable focussed on recent developments in capital markets, future capital markets facing the challenge of new financial technology and responsible, viable, and lifecycle infrastructure investments.
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OECD on Financial Markets

OECD work on financial markets promotes efficient, open, stable and sound market-oriented financial systems, based on high levels of transparency, confidence, and integrity.

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Committee on Financial Markets

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The objective of the Committee is to promote efficient, open, stable and sound financial systems, based on high levels of transparency, confidence, and integrity, so as to contribute to sustainable and inclusive growth.

In supporting this objective, Committee seeks to promote the contribution of financial institutions, including institutional investors, and capital markets to savings and investment, to finance economic growth. It also contributes to the enhancement of policy approaches in the financial sector; such as to promote efficient and transparent public debt markets. As well, it promotes effective financial education and consumer protection to enhance financial inclusion. In order to achieve these objectives, the Committee engages in efforts to:

develop proactive surveillance of financial developments and in-depth analysis of the implications of evolving financial structures on economic growth and market stability;
engage in policy dialogue, including with Committee delegates through semi-annual Committee meetings, and also between public and private sector participants through financial roundtables in Paris and Tokyo, and global fora on fintech and sustainable finance;
promote good practices through legal policy instruments, including the Committee’s Framework for Effective and Efficient Financial Regulation.

Topics of work

Financial Markets & Intermediation

‌The Committee engages in global financial surveillance and analysis of financial markets and intermediation to assess which frameworks and policies are effectively contributing to economic growth. Through its Secretariat and members, it assesses global banking, market-based finance, corporate debt and equity markets, market liquidity, implicit guarantees, and financial safety nets. It explores market contribution to investment and productivity, and access of SMEs to adequate equity and debt financing.

FinTech & Digitalisation of Finance

‌The Committee asseses developments in financial technologies that impact markets and the financial sector, and how the adoption of innovative technologies, such as through the digitalisation of finance, can contribute to economic growth. To this end, it has established an Experts Group on Finance and Digitalisation. It also assesses whether policy tools or guidance may be needed to ensure innovations can benefit society while minimising risks that could undermine growth or financial inclusion.

Sustainable Finance

‌Sustainable finance is essential to the long-term value that underpins inclusive growth. Developments in sustainable finance need to achieve high levels of transparency, confidence and integrity to ensure that the system is stable and sound. Our work assesses various forms of sustainable finance, such as ESG investing and integration, and engages with private sector participants to foster resilient markets.

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