The Financial Stability Board (FSB) started a consultation:

• announcement: FSB consults on sound practices for the responsible adoption of artificial intelligence (AI);
• consultation page: “The FSB is inviting comments on this consultation report and the questions set out below. Responses should be submitted via this secure online form by 22 July 2026.“;
• consultation document (pdf).

The FSB has seven questions:

Questions for consultation
1. Do you agree with the benefits and risks of AI adoption by financial institutions described in this report? Are there any substantive benefits or risks not covered?
2. Are the sound practices sufficiently comprehensive and clear to enable financial institutions’ responsible AI adoption?
3. Do the sound practices strike an appropriate balance between managing risks relating to all forms of AI, and addressing some of the risks relating to emerging and new complex forms of AI, such as GenAI and agentic AI?
4. Are the sound practices sufficiently flexible to accommodate and address newer types of AI and responsible adoption over time?
5. Do the case studies in this report sufficiently highlight how different types of financial institutions can benefit from responsible AI adoption? Are there additional case studies for inclusion in the report? If so, please provide such case studies, particularly for nonbanks.
6. Do the case studies in this report provide actionable insights for financial institutions in their responsible AI adoption?
7. Are the definitions in the glossary clear and aligned with industry sound practices, including recent developments in AI?

AI plays a central role in financial institutions, particularly in areas that are important to everyone:

• credit scoring;
• detection of criminal funds (AML/CFT);
• fraud detection.

If financial institutions make errors in the areas mentioned above, this can be extremely damaging to customers.

The Financial Stability Board
The FSB is a cooperation between a number of EU countries, including the Netherlands, various South American countries, Canada, the UK, the US, Saudi Arabia, South Africa and a number of Asian countries (including China, India and Hong Kong). A number of international organisations are involved, including the IMF, the BIS, the OECD, the ECB, the European Commission and the Basel Committee. The members are listed here. There is no democratic oversight of the FSB, though the decisions by FSB have a significant impact.