Financial Stability Board

Abstract

The Financial Stability Board (FSB) known as the financial stability forum (FSF) until April 2009 was established in 1999 by the Group of Seven (G7) in response to the severe global financial instability that had been evident in the Mexican peso crisis of 1994 and the East Asian and Russian crises of 1997 and 1998. It aims to identify and address systemic risks in global finance by facilitating information-sharing and coordination of regulatory responses across its member institutions and other public sector bodies. In 2009, membership of the FSB was expanded from its original 42 representatives from G7 countries, a handful of smaller states, and international institutions, to include officials from all G20 members. The FSB consists of a chairperson, a steering committee, the plenary with member countries, standard setting bodies (SSBs), and international financial institutions. Keywords: Financial Stability Board (FSB) membership; financial stability forum (FSF); organizational structure; steering committee

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