BANKING AFFAIRS

Detailed explanation-1: -Financial Stability Forum (FSF) was the predecessor of the financial stability board. The Financial Stability Board was established in April 2009, after the summit of G20 which was held in London, United Kingdom (U.K).

Detailed explanation-2: -The FSB was established in April 2009 as the successor to the Financial Stability Forum (FSF). At the Pittsburgh Summit, the Heads of State and Government of the G20 endorsed the FSB’s original Charter of 25 September 2009 which set out the FSB’s objectives and mandate, and organisational structure.

Detailed explanation-3: -More specifically, the FSB was established to: Assess vulnerabilities affecting the global financial system as well as to identify and review, on a timely and ongoing basis within a macroprudential perspective, the regulatory, supervisory and related actions needed to address these vulnerabilities and their outcomes.

Detailed explanation-4: -The Financial Stability Board (FSB) is a global organization that regulates and makes recommendations regarding the global financial system. The FSB promotes and ensures global financial stability by monitoring the global financial scenario and making recommendations for the same.

Detailed explanation-5: -30 September 2021 FSB Financial Stability Surveillance Framework. The new surveillance framework supports the comprehensive, methodical and disciplined review of vulnerabilities, helping to identify and address new and emerging risks to financial stability.