Financial Stability Board

Financial Stability Board (1999/2009, Basel, Switzerland; 33 staff; fsb.org)

The FSB was established in April 2009 by the G20 as the successor to the Financial Stability Forum (FSF) which was founded in 1999 by the G7. Members include 25 national jurisdictions including the EU, 4 international financial institutions, and 6 international standard-setting and supervising bodies. Promotes international financial stability by coordinating national financial authorities and international standard-setting bodies as they work toward developing strong regulatory, supervisory and other financial sector policies. Encourages coherent implementation of policies across sectors and jurisdictions. Seeks to strengthen financial systems and increase the stability of international financial markets.  Their offices are hosted by the Bank for International Settlements (BIS).

Responsibilities:

  • Assess vulnerabilities affecting the global financial system as well as to identify and review the regulatory, supervisory and related actions needed to address these vulnerabilities, and their outcomes.
  • Promote coordination and information exchange among authorities responsible for financial stability.
  • Monitor and advise on market developments and their implications for regulatory policy.
  • Advise on best practice in meeting regulatory standards.
  • Undertake joint strategic reviews of the international standard setting bodies and coordinate their respective policy development work to ensure this work is timely, coordinated, focused on priorities and addresses gaps.
  • Set guidelines for establishing and supporting supervisory organizations.
  • Support contingency planning for cross-border crisis management, particularly with regard to systemically important firms.
  • Collaborate with the International Monetary Fund (IMF) to conduct Early Warning Exercises,
  • Promote member jurisdictions’ implementation of agreed commitments, standards and policy recommendations, through monitoring of implementation, peer review and disclosure.

Publications:

  • Annual Reports
  • A library with ~550 reports, dashboards, letters, recommendations, evaluations, etc.
  • Country Reviews – Focus on the implementation and effectiveness of international financial standards developed by standard-setting bodies (SSBs) and of policies agreed within the FSB.
  • Highlight: Global Shadow Banking Monitoring Report – Annual report to assess global trends and risks from the shadow banking system (2017, 103p.).

Leadership: Randal K. Quarles (Chair), Dietrich Domanski (Secretary General)

Budget: ~€12.6m

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