Banking Supervision
FSB
The Financial Stability Board (FSB) has been established to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies.
The mandate of the FSB is to:
- Assess vulnerabilities affecting the financial system and identify and oversee action needed to address them.
- Promote co-ordination and information exchange among authorities responsible for financial stability.
- Monitor and advise on market developments and their implications for regulatory policy.
- Advise on and monitor best practice in meeting regulatory standards.
- Undertake joint strategic reviews of the policy development work of the international standard setting bodies to ensure their work is timely, coordinated, focused on priorities, and addressing gaps.
- Set guidelines for and support the establishment of supervisory colleges.
- Manage contingency planning for cross-border crisis management, particularly with respect to systemically important firms.
- Collaborate with the IMF to conduct Early Warning Exercises.
As obligations of membership, members of the FSB commit to pursue the maintenance of financial stability, maintain the openness and transparency of the financial sector, implement international financial standards, and agree to undergo periodic peer reviews.
The FSB is composed by national authorities from Argentina, Australia, Brazil, Canada, China, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Mexico, The Netherlands, Republic of Korea, Russia, Saudi Arabia, Singapore, South Africa, Spain, Switzerland, Turkey, United Kingdom, United States of America. They share their membership with international organizations, international standard-setting bodies and other groupings. The FSB Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.
Banco de España and the Ministerio de Economía y Hacienda are the Spanish representatives in the FSB.
