FSB: Global financial system in better position to cope with shocks than during financial crisis

The global financial system is in a better position to cope with shocks than it was during the last financial crisis, the Financial Stability Board said on Friday, as reported by Reuters.

"Regulators should make use of the flexibility built into the existing regulation for funding to the economy to continue," the FSB added.

Market reaction

Risk-on flows continue to dominate the financial markets on Friday. As of writing, the Euro Stoxx 50 Index was up 4.65% on the day and Germany's DAX 30 was adding 4.2%.