Financial Stability Board
The decision to establish the Financial Stability Board (FSB) was made during the G20 Summit in London on 2 April 2009. It succeeded the Financial Stability Forum. All the G20 members, Spain, the Netherlands, Switzerland, Singapore, the European Union and Hong Kong are represented. The role of the FSB is to identify vulnerabilities in the global financial system and put forward measures to remedy them. It acts as a forum for the States, international organisations and sector-based associations involved in financial stability.
The Financial Stability Board is composed of:
- the national authorities responsible for financial stability (see composition above).
- sector-based associations that produce standards and codes (e.g. the Basel Committee – see above). international organisations (Bank for International Settlements-BIS, IMF, World Bank, OECD).