Financial Stability Board (FSB)
Source: FSB
GS II: Important International institutions, agencies and fora- their structure, mandate
Overview
- About Financial Stability Board (FSB)
- The mandate of the Financial Stability Board (FSB)
- Committees
Financial Stability Board (FSB)
The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system
- The FSB promotes international financial stability.
- To achieve this FSB coordinates national financial authorities and international standard-setting bodies
- They work toward developing strong regulatory, supervisory and other financial sector policies.
- Encouraging coherent implementation of these policies across sectors and jurisdictions.
- Policies are implemented by jurisdictions and national authorities.
The mandate of the Financial Stability Board (FSB)
- Assess vulnerabilities affecting the global financial system and regulatory, supervisory and related actions needed to address these vulnerabilities and their outcomes.
- Coordination and information exchange among authorities responsible for financial stability.
- Monitor and advise on regulatory policy.
- Monitor and advise regarding regulatory standards.
- Undertake joint strategic reviews of the international standard-setting bodies
- Establishing and supporting supervisory colleges on guidelines.
- Future planning support for cross-border crisis management.
- Early warning exercise in collaboration with the International Monetary Fund (IMF).
- Promote
- Member jurisdictions’ implementation of agreed commitments
- Standards
- Policy recommendations
Committees
- Standing Committee on Assessment of Vulnerabilities (SCAV): main mechanism for identifying and assessing risks in the financial system.
- Standing Committee on Supervisory and Regulatory Cooperation (SRC): Supervisory analysis or framing a regulatory or supervisory policy response to a material vulnerability identified by SCAV.
- Standing Committee on Standards Implementation (SCSI): Monitoring the implementation of agreed FSB policy initiatives and international standards.
- Standing Committee on Budget and Resources (SCBR): Resources and budget and presents recommendations as necessary to the Plenary.
The FSB’s decisions are not legally binding on its members
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