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https://fsb.org redirected to https//www.fsb.org during the time we crawled it. The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established in 2009 as a successor to the Financial Stability Forum (FSF). The FSB is based in Basel, Switzerland, and its members include central banks, regulatory authorities, and finance ministries from major economies around the world. The FSB's primary mandate is to promote international financial stability. It does this by coordinating national financial authorities and international standard-setting bodies as they work toward developing strong regulatory, supervisory, and other financial sector policies. The FSB aims to foster a level playing field by encouraging coherent implementation of these policies across sectors and jurisdictions. Key Functions and Objectives: 1. Assessing Vulnerabilities: The FSB assesses vulnerabilities affecting the global financial system and identifies and reviews, on a timely and ongoing basis within a macroprudential perspective, the regulatory, supervisory, and related actions needed to address these vulnerabilities and their outcomes. 2. Promoting Coordination and Information Exchange: The FSB promotes coordination and information exchange among authorities responsible for financial stability. 3. Monitoring Market Developments: The FSB monitors and advises on market developments and their implications for regulatory policy. 4. Advising on Best Practices: The FSB monitors and advises on best practices in meeting regulatory standards. 5. Coordinating Policy Development: The FSB undertakes joint strategic reviews of the international standard-setting bodies and coordinates their respective policy development work to ensure this work is timely, coordinated, focused on priorities, and addresses gaps. 6. Supporting Supervisory Colleges: The FSB sets guidelines for establishing and supporting supervisory colleges. 7. Contingency Planning for Cross-Border Crisis Management: The FSB supports contingency planning for cross-border crisis management, particularly with regard to systemically important firms. 8. Conducting Early Warning Exercises: The FSB collaborates with the International Monetary Fund (IMF) to conduct early warning exercises. 9. Promoting Implementation of Agreed Commitments: The FSB promotes member jurisdictions' implementation of agreed commitments, standards, and policy recommendations through monitoring of implementation, peer review, and disclosure. The FSB's structure includes the Plenary as the sole decision-making body, a Steering Committee to take forward operational work in between Plenary meetings, and three Standing Committees with specific but complementary responsibilities: the Standing Committee on Assessment of Vulnerabilities (SCAV), the Standing Committee on Supervisory and Regulatory Cooperation (SRC), and the Standing Committee on Standards Implementation (SCSI). Additionally, the Standing Committee on Budget and Resources (SCBR) provides oversight of the FSB's resources and budget. It's important to note that the FSB's decisions are not legally binding on its members. Instead, the organization operates by moral suasion and peer pressure to set internationally agreed policies and minimum standards that its members commit to implementing at the national level. As of 2024, the FSB continues to play a crucial role in promoting global financial stability and addressing emerging challenges in the financial sector, including those related to technology, market resilience, and regulatory cooperation."

• The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established in 2009 as a successor to the Financial Stability Forum (FSF). The FSB is based in Basel, Switzerland, and its members include central banks, regulatory authorities, and finance ministries from major economies around the world. The FSB's primary mandate is to promote international financial stability. It does this by coordinating national financial authorities and international standard-setting bodies as they work toward developing strong regulatory, supervisory, and other financial sector policies. The FSB aims to foster a level playing field by encouraging coherent implementation of these policies across sectors and jurisdictions. Key Functions and Objectives: 1. Assessing Vulnerabilities: The FSB assesses vulnerabilities affecting the global financial system and identifies and reviews, on a timely and ongoing basis within a macroprudential perspective, the regulatory, supervisory, and related actions needed to address these vulnerabilities and their outcomes. 2. Promoting Coordination and Information Exchange: The FSB promotes coordination and information exchange among authorities responsible for financial stability. 3. Monitoring Market Developments: The FSB monitors and advises on market developments and their implications for regulatory policy. 4. Advising on Best Practices: The FSB monitors and advises on best practices in meeting regulatory standards. 5. Coordinating Policy Development: The FSB undertakes joint strategic reviews of the international standard-setting bodies and coordinates their respective policy development work to ensure this work is timely, coordinated, focused on priorities, and addresses gaps. 6. Supporting Supervisory Colleges: The FSB sets guidelines for establishing and supporting supervisory colleges. 7. Contingency Planning for Cross-Border Crisis Management: The FSB supports contingency planning for cross-border crisis management, particularly with regard to systemically important firms. 8. Conducting Early Warning Exercises: The FSB collaborates with the International Monetary Fund (IMF) to conduct early warning exercises. 9. Promoting Implementation of Agreed Commitments: The FSB promotes member jurisdictions' implementation of agreed commitments, standards, and policy recommendations through monitoring of implementation, peer review, and disclosure. The FSB's structure includes the Plenary as the sole decision-making body, a Steering Committee to take forward operational work in between Plenary meetings, and three Standing Committees with specific but complementary responsibilities: the Standing Committee on Assessment of Vulnerabilities (SCAV), the Standing Committee on Supervisory and Regulatory Cooperation (SRC), and the Standing Committee on Standards Implementation (SCSI). Additionally, the Standing Committee on Budget and Resources (SCBR) provides oversight of the FSB's resources and budget. It's important to note that the FSB's decisions are not legally binding on its members. Instead, the organization operates by moral suasion and peer pressure to set internationally agreed policies and minimum standards that its members commit to implementing at the national level. As of 2024, the FSB continues to play a crucial role in promoting global financial stability and addressing emerging challenges in the financial sector, including those related to technology, market resilience, and regulatory cooperation.