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; and
  • 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 (including the 12 key International Standards and Codes), and agree to undergo periodic peer reviews, using among other evidence IMF/World Bank public Financial Sector Assessment Program reports.

The FSB, working through its members, seeks to give momentum to a broad-based multilateral agenda for strengthening financial systems and the stability of international financial markets. The necessary changes are enacted by the relevant national financial authorities.

The FSB plenary meets two times per year and has calls as needed. To broaden the circle of countries engaged in work to promote international financial stability, the FSB also holds regional outreach meetings with non-member financial authorities.

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