Financial Stability Board

Founding Year: 2009

Staff: 33

Budget: ~€12.6m

Dietrich Domanski (Secretary General)

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.).

 

 

Financial Stability Board contributes to the following Sustainable Development Goals


  • SDG 1 - No Poverty
    Calls for an end to poverty globally by 2030 and promotes increased access to basic services and social protection.
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  • SDG 2 - Zero Hunger
    Aims to end hunger, achieve food security and improved nutrition and promote sustainable agriculture
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  • SDG 3 - Good Health and Well Being
    Aims to ensure healthy lives and promote well-being for all at all ages, by reducing mortality rates and increasing access to equitable health care for men and women.
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  • SDG 4 - Quality Education
    Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.
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  • SDG 5 - Gender Equality
    Aims to end gender discrimination in all forms and promote equal opportunity for all women and girls in terms of education, career, and sexual/reproductive rights.
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  • SDG 6 -Clean Water and Sanitisation
    Ensure availability and sustainable management of water and sanitation for all by promoting global access to adequate sanitation and hygiene.
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  • SDG 7 - Affordable and Clean Energy
    Ensure access to affordable, reliable, sustainable and modern energy for all by promoting affordable and reliable energy sources.
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  • SDG 8 -Decent Work and Economic Growth
    Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
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  • SDG 9 - Industry, Innovation and Infrastructure
    Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.  
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  • SDG 10 - Reduced Inequalities
    Aims to achieve economic growth by reducing inequalities regarding social, economic and political opportunities and freedoms.
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  • SDG 11 - Sustainable Cities and Communities
    Aims to promote the globalization of sustainable cities and communities in turn providing universal safe and affordable housing.
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  • SDG 12 - Responsible Consumption and Production
    Aims to create responsible and sustainable practices involving consumption and production through efficiently using natural resources.
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  • SDG 13 - Climate Action
    Calls to take urgent action to combat climate change and its impacts through global awareness, education, and integration into government policies.
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  • SDG 14 - Life Below Water
    Calls to conserve and sustainably use the oceans, seas and marine resources for sustainable development and prevent and reduce marine pollution in order to protect ecosystems and achieve healthy oceans.
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  • SDG 15 - Life on Land
    Aims to protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss.
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  • SDG 16 - Peace, Justice and Strong Institutions
    Aims to promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels. Calls to reduce all forms of violence and deaths related to violence and to end abuse and exploitation
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  • SDG 17 - Partnerships for the Goals
    Aims to strengthen the means of implementation and revitalize the global partnership for sustainable development by mobilizing domestic resources in order to provide support for developing countries.
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