Financial Stability Board
The Financial Stability Board (FSB), designated by the Bundesbank as the Financial Stability Board, an international organization that oversees the global financial system and makes recommendations. It has been set up at the summit of the Group of Twenty major industrialized and emerging economies (G -20) in April 2009 in London as a successor to the Financial Stability Forum. The FSB has its headquarters at the Bank for International Settlements in Basel, Switzerland. In addition to institutions from the G -20 countries to international bodies like the World Bank, the European Central Bank and the European Commission are members.
The tasks of the FSB
- The assessment of threats to the financial system and the formulation of measures against it.
- The promotion of cooperation and exchange of information between institutions that are responsible for the financial stability.
- Monitoring of and advice on market developments and their impact on regulatory measures.
- Monitoring of and advice on the best practice in the regulation standards.
- Implementation of common strategic studies on the development of policies of international standards -setting bodies to ensure that their work timely, coordinated, aligned with priorities and gaps.
- Establishing policies and support for the establishment of monitoring committees.
- Development of risk management plans for financial crises, particularly in regard to systemically relevant companies.
- Cooperation with the International Monetary Fund in the introduction of an early warning system.
The organization is set by statute ( Financial Stability Board Charter ).
The FSB meets twice a year and as needed. In addition, regional conferences will be held, with the participation of non-members.
Between meetings, the FSB is a chairman and led an associated therewith Secretariat. Decisions take place in the plenary of the members.
A substantial part of the work of the FSB is the publication of studies and recommendations. These are on the website of the FSB to the public.