FSB RCG Americas meets in Santiago, Chili25 May 2012
Today, the Central Bank of Chile hosted the second meeting of the Financial Stability Board (FSB) Regional Consultative Group for the Americas in Santiago, Chile. The group was established as part of the FSB's initiatives announced in November 2010 to expand and formalise outreach beyond its membership. To this end, six regional consultative groups1were established to bring together financial authorities from FSB member and non-member countries to exchange views on vulnerabilities affecting financial systems and on initiatives to promote financial stability.
At their meeting today, members of the FSB Regional Consultative Group for Americas reviewed the FSB's activities and initiatives since it last met and discussed issues relating to potential vulnerabilities and regional financial stability. Those included in particular the impact of recent developments in the global economy on the financial sector of the region and assessment of financial system vulnerabilities arising in faster growing economies. The group also discussed current practices and key challenges of home-host information sharing and supervisory initiatives, and the possible effect of global regulatory reforms on emerging markets and developing economies.
The FSB Regional Consultative Group for the Americas is co-chaired by Governor Agustín Carstens, Bank of Mexico and Governor Rodrigo Vergara, Central Bank of Chile. Membership includes financial authorities from Argentina, Bahamas, Barbados, Bermuda, Bolivia, Brazil, British Virgin Islands, Canada, Cayman Islands, Chile, Colombia, Costa Rica, Guatemala, Jamaica, Mexico, Panama, Paraguay, Peru, Uruguay and the United States. The inaugural meeting of this group was held on 2 December 2011 in Mexico City.