GRA · Financial Regulation Nexus

Spatial financeWhere capital meets hazard, exposure and transition

Financial Regulation Nexus

Financial regulation and supervision research, with explicit distinction from regulators and their authority. Financial Regulation Nexus is an established platform of The Global Risks Alliance.

STEM methods
4
Canonical methods this field applies
Topics
10
Subject pages in the field
Counterparts
6
Platforms in shared fields across the network
Report series
2
Reports series it contributes to
02Frameworks

What the work is read against.

The platform does not set standards. It reads its evidence against the frameworks that competent bodies have adopted, so a finding can be placed where a decision-maker already works.

Framework or standardBodyWhat it sets
Core Principles for Effective Banking Supervision and Basel IIIBasel Committee on Banking SupervisionMinimum standards for supervisory powers and practice, and the capital, leverage and liquidity requirements for internationally active banks
Key Attributes of Effective Resolution Regimes for Financial InstitutionsFinancial Stability BoardResolution powers, planning and cross-border cooperation so that systemic firms can fail without taxpayer support
Objectives and Principles of Securities RegulationInternational Organization of Securities CommissionsPrinciples for regulators, issuers, intermediaries and markets, with an assessment methodology
Insurance Core Principles and ComFrameInternational Association of Insurance SupervisorsSupervisory standards for insurers and for internationally active insurance groups
FATF RecommendationsFinancial Action Task ForceStandards against money laundering, terrorist financing and proliferation financing, including for virtual asset providers
Macroprudential policy framework and recommendationsEuropean Systemic Risk BoardIntermediate objectives, instruments, reciprocity and warnings for system-wide risk in the EU
Digital Operational Resilience Act (DORA)European UnionICT risk management, incident reporting, resilience testing and oversight of critical ICT third-party providers
Recommendation on Regulatory Policy and Governance and Better Regulation guidelinesOECD and European CommissionRegulatory impact assessment, consultation, ex post evaluation and oversight of rule-making quality
Principles for Financial Market InfrastructuresCPMI and IOSCORisk management and governance standards for payment systems, central counterparties and settlement systems
Twin Peaks, integrated and sectoral supervisory modelsNational legislatures; comparative work by the World Bank and the Group of ThirtyAlternative institutional designs for allocating prudential and conduct objectives among authorities
03Monitor

Supervisory review console.

The screen a team would use to follow this field: its measures, states and decisions. Names are examples and values are illustrative.

Supervisory review console

Bank supervision · Cycle 3

7 findings overdueGRA · Financial Regulation Nexus

Firms by risk rating

Bank BHigh35Enhanced
Bank DMedium22Standard
Insurer AlphaHigh32Enhanced
Fintech F1Low22Light

Findings

Open01
Model validation gapsBank B
Remediating01
Climate data qualityInsurer Alpha
Closed01
Liquidity reportingBank D

Climate expectations met

share of firms, thematic review

Governance, %80 of 100 requiredRisk management, %55 of 100 requiredScenario analysis, %30 of 100 requiredDisclosure, %56 of 100 required
Supervisory review console: the screen’s structure, terms and states for Bank supervision.Example names and illustrative values; a design, not a record or a live system.
05Scenario model

Policy paths and what they do to the risk.

How three families of instruments change a risk outcome over time with adoption lags, coverage and compliance, the policy scenarios behind transition and physical risk assessments. Scenario: named assumptions about the future, not a forecast.

Controls

Baseline trend of the outcome
2.0% a year
Coverage of the instrument
70%
Compliance
75%
Effect size, against the teaching value
100%
Years ahead
20 years

Readouts

Largest reduction at the horizon
Regulation
Its reduction against the baseline
21%
Numbers, methods and sources
YearBaselineRegulationEconomic incentiveInformation and capacity
0100.099.598.899.1
1102.0101.2100.199.8
2104.0102.5101.199.9
3106.1103.5101.6100.0
4108.2103.7101.8100.7
5110.4103.2101.7102.1
6112.6102.0101.6103.9
7114.9100.4101.6105.9
8117.299.2102.1108.0
9119.598.6102.9110.1
10121.998.9104.2112.3
11124.399.7105.7114.5
12126.8101.1107.4116.8
13129.4102.7109.4119.2
14131.9104.5111.4121.6
15134.6106.5113.5124.0
16137.3108.5115.7126.5
17140.0110.7118.0129.0
18142.8112.9120.4131.6
19145.7115.1122.8134.2
20148.6117.4125.2136.9

Methods

  1. Tools of government Hood (1983), The Tools of Government, Macmillan
  2. Carrots, sticks and sermons Bemelmans-Videc, Rist and Vedung (1998), Transaction
  3. Diffusion of innovations Rogers (2003), Diffusion of Innovations, Free Press
  4. Uncertainty fan (parameter Monte Carlo) Spiegelhalter, Pearson and Short (2011), Visualising uncertainty about the future, Science 333
  5. One-at-a-time sensitivity (tornado) Saltelli and others (2008), Global Sensitivity Analysis: The Primer, Wiley

Data

The model runs on the teaching values set by the controls. To calibrate it for a place, read it against these admitted layers and series, which this page’s map can draw:

  • Borders Natural Earth
  • Cities Natural Earth
Policy paths and what they do to the risk. Illustrative teaching model: it runs on the values set by the controls, not on measured data. Methods: Tools of government (Hood (1983), The Tools of Government, Macmillan); Carrots, sticks and sermons (Bemelmans-Videc, Rist and Vedung (1998), Transaction); Diffusion of innovations (Rogers (2003), Diffusion of Innovations, Free Press).
06Cycle

How work moves in this field.

A question becomes evidence, a governed build, an organised community, a controlled test, a reviewed publication and, finally, a decision taken by the competent authority under its own rules.

  1. Question Universe National, regional or institutional priority. Question in Financial Regulation Nexus
  2. Evidence Foundry STEM foundation of the platform. Evidence in Financial Regulation Nexus
  3. Build Foundry Foundry. Build in Financial Regulation Nexus
  4. Organise Universe Nexus ecosystem. Organise in Financial Regulation Nexus
  5. Test Universe Universe (independent site). Test in Financial Regulation Nexus
  6. Publish Reports Reports. Publish in Financial Regulation Nexus
  7. Decide Competent authority Competent authorities and institutions, through NXS-RLS. Decide in Financial Regulation Nexus
  8. Renew Universe Corrections and the next annual agenda. Renew in Financial Regulation Nexus

Each step of the cycle in the pillar it runs in; the decision stays with the competent authority, outside the programme.

07Exposure, loss and capital

What Financial Regulation Nexus means for exposure, loss and capital.

The exposure, loss, scenario and capital views a risk officer, supervisor or ministry of finance would ask for, with the frameworks they report against. Structures follow supervisory and actuarial practice. Values are illustrative: never prices, ratings or advice.

Disclosure crosswalk

Where evidence on Financial Regulation Nexus fits the disclosure and prudential frameworks institutions report against.

PillarTCFDISSB IFRS S2Prudential (BCBS, IAIS)Evidence this page can hold
GovernanceBoard oversight of climate-related risksGovernance requirementsGovernance and risk appetite principlesWho owns the risk and how it is escalated
StrategyRisks, opportunities and resilienceScenario analysis and resilienceStrategy and business model principlesScenario design and transmission paths
Risk managementIdentify, assess, manageRisk management processesInternal control and ICAAP or ORSAExposure maps and loss views
Metrics and targetsMetrics used and targets setCross-industry and industry metricsData, metrics and reporting principlesIndicator definitions and units
Sources: the TCFD recommendations, ISSB IFRS S2 and the BCBS and IAIS principles, cited by name; the framework texts are the authority. A crosswalk by pillar. It is not a compliance assessment.

Transmission channels

How a shock in Financial Regulation Nexus reaches credit, market, underwriting, liquidity and operational risk, and feeds back.

Channel structure after the Basel Committee’s work on climate-related risk drivers and transmission channels; links shown are typical paths, not estimated exposures.
NGFS climate scenarios · Network for Greening the Financial SystemIFRS S2 Climate-related Disclosures · ISSBTCFD recommendations · Financial Stability Board TCFDPrinciples for the effective management of climate-related financial risks · Basel Committee on Banking Supervision
08Overview

What Financial Regulation Nexus does.

Financial regulation is the body of rules and supervision that keeps financial firms sound, markets fair and the financial system resilient. Financial Regulation Nexus, the Global Risks Alliance’s platform for the field, explains how prudential and macroprudential rules, conduct and consumer protection, crisis management, data and disclosure, and cross-border cooperation are designed and tested; it is not a regulator.

Who it serves

Its community

Regulatory scholars; supervisors in personal professional capacity; compliance professionals.

How it works

Its methods

Comparative standards; prudential and conduct analysis.

What it produces

Its outputs

Regulation research briefs; supervisory learning material.

09The problem

Why finance is regulated, and why regulation keeps changing.

Finance is regulated because its failures do not stay private. Banks transform short-term deposits into long-term loans, which makes them vulnerable to runs; insurers promise to pay claims years in the future; markets depend on accurate information and fair dealing. When a large or interconnected institution fails, losses spread through funding markets, payment systems and confidence, and the costs fall on depositors, policyholders, taxpayers and the wider economy. Economic research on crises has documented these channels repeatedly.

Regulation responds in layers. Prudential rules require capital, liquidity and sound risk management so that individual firms can absorb losses. Conduct rules protect customers and market integrity. Macroprudential policy addresses risks that build across the system, such as credit booms and common exposures. Resolution regimes aim to let failing firms fail without disorder. International standards coordinate these rules across borders, while national authorities apply them.

Each layer has known weaknesses. Rules can be arbitraged by moving activity to less regulated entities or jurisdictions. Complexity can obscure rather than reduce risk. Supervisory data may be late, inconsistent or blind to new exposures. New technologies, from algorithmic trading to digital assets and AI-driven services, test frameworks designed for earlier business models. Climate, cyber and other systemic risks challenge regulators to look beyond the balance sheet. Understanding these tensions is the work of the field.

10What the platform does

Shared industry understanding of regulation, without advice.

Financial Regulation Nexus produces regulation research briefs and supervisory learning material. Its methods are comparative analysis of standards and prudential and conduct analysis. It helps the industry and the public understand how regulatory frameworks work, how they compare across jurisdictions and where they are changing, as a precompetitive and public-interest effort.

Compare

Standards and frameworks

How international standards and national rules compare, and how they are applied in practice.

Analyse

Prudential and conduct effects

What regulatory frameworks do to resilience, behaviour and outcomes, using published and aggregated data.

Learn

Supervisory learning

Material that explains supervisory practice and its rationale, for professionals and students of regulation.

11Foundations and counterparts

Built on named methods, connected across three institutions.

The platform applies financial economics and macro-finance, policy, institutional and decision science, data engineering, interoperability and stewardship and game theory and mechanism design; see the STEM foundation. Two chapters develop specialist lines: financial data and disclosure and financial conduct and consumer protection.

12Coverage

The areas of financial stability this platform takes on.

Financial Regulation Nexus studies how financial regulation and supervision are designed, implemented and tested: prudential and macroprudential rules, conduct and consumer protection, crisis management, data and disclosure, and cooperation across borders. Each page sets out mechanisms, indicators, sources, methods and the decisions that legislatures, regulators, central banks and boards hold. It is shared industry understanding from the Global Risks Alliance, independent of every regulator, and not legal or investment advice.

Area

Prudential regulation

Capital, liquidity and solvency frameworks for banks and insurers, and the gaps between standards, national rules and supervisory practice.

Area

Macroprudential policy

System-wide buffers, borrower-based limits and the stance of policy across the financial cycle.

Area

Conduct and consumer protection

Disclosure, suitability, fair value, market integrity and the institutions that handle complaints and redress.

Area

Crisis management and resolution

Recovery planning, resolution powers, bail-in, deposit insurance and emergency liquidity.

Area

Cross-border supervision

International standards, peer review, supervisory colleges and home-host cooperation.

Area

Financial technology

Crypto-assets, stablecoins, AI and concentrated technology providers at the edge of the regulatory perimeter.

Area

Supervisory data and disclosure

Reporting standards, identifiers, data quality, structured disclosure and supervisory technology.

Area

Regulatory institutions

Supervisory architectures, independence, accountability and the lawful conduct of industry cooperation.

13Grounding

Built on named science, technology, engineering and mathematics.

Every claim on Financial Regulation Nexus rests on methods with a canonical page in the STEM Commons, so readers can see what a finding depends on and where its limits lie.

Financial economics and macro-financePolicy, institutional and decision scienceData engineering, interoperability and stewardshipGame theory and mechanism design

See the STEM foundation of Financial Regulation Nexus

14Six pillars

How this works across the six pillars.

Financial Regulation Nexus works through six pillars of one annual programme, led by the Nexus Consortium, with the Global Centre for Risk and Innovation (GCRI), the Global Risks Forum (GRF) and GRA each contributing in its role: explore, experiment and prototype in Labs, build, simulate and prepare in Foundry, convene and test in Universe, codify, correct and apply in Nexus Standards, publish in every format in Reports, teach in the open in Risk Academy.

Select pillars · hover lines18 / 18 handoffs

Route

The whole programme

Every pillar hands its work to another; together they close the year’s feedback loops.

L · F · U · S · R · A

Pillars
6 of 6
Handoffs
18 of 18
Loops
17 closed

Handoffs in play

  • F01Universe → Foundry · Admitted mission becomes a cycle project with a decision caseReadiness preparation
  • F02Foundry → Universe · Core Build Report and go or no-go evidenceControlled build
  • F03Foundry → Reports · Sealed observations and indicator series behind a profileCloseout
  • F04Universe → Reports · After-action and scenario findings for chapters 10 and 13After-action review

and 14 more

F01 to F14 are the recorded handoffs of the programme year, each with the artefact that moves and its phase; R1, R2, R3 and R4 carry work around the ring. A loop counts when every pillar on it is selected. Every pillar is led by the Nexus Consortium.
  1. LabsWhere questions become experiments and prototypes: new methods, data and tools are tried in the open, with their limits on record, before the Foundry builds them, under the Nexus Consortium.Labs
  2. FoundryWhere exposure and scenario evidence is built so supervisors, insurers and investors can read it.Financial Regulation Nexus in FoundryFoundry
  3. UniverseWhere scenarios are tested in controlled exercises, and finance-readiness dialogues read what they mean for capital and cover.Financial Regulation Nexus in Universeuniverse.nexus
  4. Nexus StandardsWhere disclosure and data rules are codified so risk evidence is comparable for finance and insurance.Finance, Insurance and the Economy in Standardsnexustandards.com
  5. ReportsWhere sector analysis and the finance and insurance readiness series are published, with exposure and limits stated.Financial Regulation Nexus in ReportsReports
  6. Risk AcademyWhere finance, insurance and public-finance professionals learn to read risk evidence, on Risk Academy.Faculty of Finance and Economics in Academyrisksacademy.com
18Questions

Questions and answers.

Who publishes Financial Regulation Nexus?
The Global Risks Alliance (GRA) publishes Financial Regulation Nexus and is responsible for what it publishes. GRA is a nonprofit business league for the financial services industry. It does not lend, underwrite, rate, invest, advise on or arrange transactions, and readiness work is not approval.
Is Financial Regulation Nexus active?
Financial Regulation Nexus is an established platform of The Global Risks Alliance. Information and enquiries are open today. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.
How can I contribute?
Start with the participation paths or write to the contact form. An enquiry receives a reference; it does not create membership, a role or an assignment.
Where are findings published?
Reviewed outputs appear on the publications page, and contributions to the Reports series are listed on Publish in Reports.
Which values on this platform are real?
Indicator names, units, sources, methods and frameworks are real. Levels in figures and canvases are examples in a design. A programme replaces them with labelled evidence it owns.
How do I report an error?
Use corrections and concerns, or write to the integrity concern form. A correction is recorded as a new version, never a silent edit.
Is the Financial Regulation Nexus a regulator?
No. GRA is not a regulator, supervisor or self-regulatory organisation, and it does not interpret rules for individual firms. Regulatory decisions belong to the competent authorities under their own law.
Can a serving supervisor take part?
Supervisors and other public servants may take part in sessions only in their institutional role, and never as members. Their participation does not represent their authority, and they are not asked to disclose confidential supervisory information.
ReportsContribute

Contribute evidence from this page.

Reports is the Consortium’s quarterly publication. What you know about this subject can become evidence, a case or a correction in the next edition, credited to you and published under CC BY 4.0 where it is your own work.

Global Risks AllianceFinancial Regulation NexusFinance and Insurance ReadinessMethods and Technical
How it works

How Financial Regulation Nexus works.

Choose a view and press Play to follow the platform’s process, its programme year, the standards it applies and how its findings are published. The outline shows how the work is designed to run, not the status of any decision.

Financial Regulation Nexus

How Financial Regulation Nexus works

Platforms · Programme year · Standards · Reports

A platform joins a field to named methods, labelled evidence and the outputs it publishes, without becoming the authority it serves.

  1. 01 Scope

    1. 01Field and familiesStart · The platform leadThe home states the field, its families and who it serves.
    2. 02Topic dossiersRecord · Platform authorsTopics explain the subject with labelled evidence.
  2. 02 Evidence

    1. 03Evidence labelsRecord · GCRIEach value is labelled: observed, published statistics, estimated, modelled, scenario or unknown.
    2. 04MethodsStep · Method ownersMethods come from the STEM Commons, each with one canonical page.
  3. 03 Work

    1. 05Scenarios on the systemsModel · Foundry pillarScenarios run on the Nexus systems, labelled as scenario.
    2. 06Standards that applyRecord · Nexus StandardsThe platform names the standards that apply. A validator report is evidence for review.
  4. 04 Publish

    1. 07EditionsRecord · ReportsFindings are published through Reports with their limits.
    2. 08Authority decidesOutcome · The competent authorityDecisions and execution stay with the government, operator or licensed institution.

Financial Regulation Nexus home · Platforms · Shared methodsAn outline of how the work is designed to run; it does not report the status of any decision or record.

Take part

Take part in Financial Regulation Nexus.

Start from who you are. Answer an open call. Or form and lead a competence cell on the Financial Regulation Nexus platform.

Route

National institutions

Ministries, statistics offices and agencies: a national desk and chapter, and a seat in the working groups. National chapters

Route

Sectors and professions

Operators, regulators, banks, insurers and professional bodies whose work touches Financial Regulation Nexus. Participate

Route

Learning

Courses and practice, with a record of every course completed. Free to study. Open learning

Route

Standards

Draft, review and adopt the methods and data standards with the working groups. Working groups

Route

Communities and research

Universities, civil society and individual experts: projects, data and review. Write to the team

The Global Risks Index

Every figure on this page is indexed: hazards, climate, conflict, the world.

The Index is the Consortium’s indexing system for risk data. Every indicator, hazard, series and country profile carries its Nexus Standards identifier, its source and its licence, so what this page shows can be traced, corrected and reused.

  1. 01 · Sources205 registered sourcesEvery value keeps its source and licence; withheld values are counted.Data and licences
  2. 02 · Nexus StandardsNIS-1 and NHS-1451 indicators, 905 hazards; every record carries a UNI.Nexus Standards
  3. 03 · The Index54 series, 195 country profilesComputed on the standards; no value is published until an edition is released.The Global Risks Index
  4. 04 · This pageFinancial Regulation NexusMaps, figures and feeds read the Index in the context of hazards, climate, conflict.Public API
Sources205registered, each with its licence
Indicators451NIS-1, 106 composites, 20 domain indices
Hazards905NHS-1, crosswalked to UNDRR-ISC HIPs
Series54global, sector, strategic, technology, thematic
Country profiles195one site per country

Series in this context hazards, climate, conflict

  1. GLBGlobal SystemsThe state of interdependent global risk: the twenty domain indices aggregated to the world, the five core systems (water, energy, food, health, biodiversity) and their couplings, the global tail register and the gap…NXS-GRX-AR-000002Hazards · Climate · Conflict
  2. THDisaster Risk Intelligence (DRI)Signals, observations, event streams, geospatial layers and scenario packs turned into structured risk intelligence for preparedness and planning.NXS-GRX-AR-000111Hazards · Climate · Conflict
  3. GSGlobal CitiesUrban exposure, heat, flooding, informal settlement, service dependency and the economic weight of cities at risk.NXS-GRX-AR-000068Hazards · Infrastructure · Climate
  4. GSGlobal ClimateChronic and acute physical climate hazard, transition exposure, adaptation gaps and scenario pathways to 2030, 2050 and 2100.NXS-GRX-AR-000065Climate · Hazards · Finance

All 54 series · The 20 domain indices

Country profiles the world

Every country profile carries the source and licence of each value. Correct a value or reply

Hazard domains NHS-1

Geodata and API open

Open layers on an equal-area hexagon grid, shown as densities per km² or as symbols: People · GHSL 2025People · WorldPop 2025Built-up areaPortsAirportsRoadsRailwaysRivers and lake centrelines

/api/v1/public/grix · https://nexustandards.com/uni/{uni}
Developers · Data · Made with Natural Earth, Public domain; GHSL and WorldPop, CC BY 4.0

Snapshot of the Index registries pinned 2026-10-23 · 22c6eed. Research and risk-analytics information: not a rating, an official classification, a warning, a benchmark or advice.

Financial Regulation Nexus

Bring an exposure or capital question to the Alliance.

Information and enquiries are open today. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.

The Global Risks Alliance

Finance · trust · precision

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Independence

Editors and the expert reviewers named on each article decide what we publish. Funders and partners do not review or approve articles before publication.

Licence

Articles: CC BY 4.0. Figures, maps, twins and data: CC BY 4.0. Other uses: ask through the permissions form.