At its meeting in Rome today, the FSB assessed vulnerabilities affecting the financial system, and made decisions needed to progress major initiatives to strengthen the resiliency of the financial system.
The review finds that FSB member jurisdictions have successfully prompted financial institutions to improve their disclosure of exposures to structured credit products.
The peer review report provides a comprehensive picture of existing mortgage underwriting practices and regulatory oversight and enforcement to implement such practices.
The report finds that the Spanish financial system weathered the initial brunt of the financial crisis relatively well, primarily due to a strong regulatory stance and sound supervision.