On the margins of this year's Annual Meetings of the IMF and World Bank Group in Washington, D.C. on 12/13 October 2017 the G7 finance ministers and central bank governors adopted the report on the G7 Fundamental Elements for Effective Assessment of Cybersecurity in the Financial Sector.
The 12th meeting of ASEM Customs Directors-General took place in Berlin on 16/17 October 2017. The meeting brought together the Customs Directors-General from the European and Asian member states of ASEM along with representatives from the European Commission. The World Customs Organization also attended as an observer.
The G7 countries attach great importance to cyber security in the financial sector. Therefore, minimum standards for cyber security in the financial services sector should be designed to protect consumers, institutions, data and infrastructure.
The Board of Governors of the new Asian Infrastructure Investment Bank (AIIB) convened in Beijing on 25-26 June 2016 for its first annual meeting. The Governors noted the progress made by the AIIB since it was established on 16 January 2016. This includes the launching of the bank’s first four infrastructure projects, which will involve a total of US$509 million in loans.
The G7 finance ministers and central bank governors released a statement on 24 June 2016 following the UK’s referendum on the EU: The G7 respect the intention expressed by the people of the United Kingdom, will continue to consult closely on market movements and financial stability, and remains united and will continue to maintain solidarity as G7.
The spring meetings of the International Monetary Fund (IMF) and World Bank in Washington provided the backdrop for meetings of the G20 finance ministers and central bank governors as well as the IMF’s International Monetary and Financial Committee on 14-16 April 2016. The discussions focussed on the state of the global economy and the international community’s response to the Panama Papers. Other topics included the global financial safety net and the IMF’s forthcoming quota review.
