Financial Stability Board : Purpose & headquarter
Q. Which of the following statements is/are correct about the Financial Stability Board (FSB)?
1. Financial Stability Board (FSB) is successor of the Financial Stability Forum (FSF).
2.India is a member of Financial Stability Board (FSB)- Published on 16 Nov 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Both
- The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system.
- It was established after the 2009 G-20 London summit in April 2009 as a successor to the Financial Stability Forum (FSF).
- The Board includes all G-20 major economies, FSF members, and the European Commission.
- It is based in Basel, Switzerland.
- Mark Carney , Governor of the Bank of England and former Governor of the Bank of Canada is current chairman of Financial Stability Board.
- Financial Stability Forum (FSF), a group of finance ministries, central bankers, and international financial bodies.
- The FSF was founded in 1999 to promote international financial stability, after discussions among Finance Ministers and Central Bank Governors of the G7 countries, and a study which they commissioned.
- The FSF facilitated discussion and co-operation on supervision and surveillance of financial institutions, transactions, and events.
