The G20 Leaders at today’s Pittsburgh Summit endorsed the Charter formally establishing the Financial Stability Board (FSB).The Charter also sets out its objectives, mandate, membership and organisational processes.
The FSB is publishing today two reports submitted to G20 Leaders for their Pittsburgh Summit which cover policy measures for improving financial regulation and progress in implementing the London Summit recommendations for strengthening financial stability.
At its meeting in Paris, the FSB reviewed the main risks facing the financial system and potential policy responses. It also discussed further work to improve financial regulation and progress in implementing reforms.
The FSB held its inaugural meeting in Basel on 26-27 June. This was the first meeting since the Financial Stability Forum (FSF) was re-established as the FSB with an expanded membership and a broader mandate to promote financial stability.
The Monitoring Group, a group of international regulatory bodies and related organizations committed to advancing the public interest in areas related to international audit quality, announces the adoption of a formal Charter.
The FSF issued reports today covering recommendations for addressing procyclicality in the financial system, principles for sound compensation practices and principles for cross-border cooperation on crisis management.
