The Financial Stability Board (FSB) published the finalized "Robust Practices for Responsible AI Adoption," proposing 12 practices.
On October 15, the Financial Stability Board (FSB) published the final report "Robust Practices for Responsible AI Adoption," proposing 12 practices to help financial institutions manage risks responsibly while adopting AI. The report incorporates public feedback received on the June 2026 consultation paper. The 12 practices are divided into two groups: one emphasizes firm-wide AI governance, including the role of the board and senior management in ensuring AI adoption aligns with business models, risk appetite, and strategy; governance frameworks that define roles and responsibilities; integrating AI risks into risk management frameworks and documenting AI use; and continuous learning and adjustment. The other group provides a risk management framework covering the full AI lifecycle from development to deployment, addressing use case materiality and risk assessment, AI technology selection, data governance, explainability and compensating controls, use case performance evaluation, human oversight, AI-related cyber and ICT risk management, and risks from third-party AI dependencies. The report also includes case studies of financial institutions applying these practices and states that the FSB will track progress and update these practices as necessary.
This final report breaks down AI governance for financial institutions into 12 actionable practices and explains how they align with existing cyber and third-party risk management frameworks.