Post by niseag on Dec 10, 2013 8:35:13 GMT 4
The 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. It brings together national authorities responsible for financial stability in significant international financial centres, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts.
www.financialstabilityboard.org
As part of its mandate, the FSB will:
assess vulnerabilities affecting the global financial system and identify and review on a timely and ongoing basis the regulatory, supervisory and related actions needed to address them, and their outcomes;
promote coordination 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;
support contingency planning for cross-border crisis management, particularly with respect to systemically important firms;
collaborate with the International Monetary Fund (IMF) to conduct Early Warning Exercises; and
undertake any other tasks agreed by its Members in the course of its activities and within the framework of this Charter.
The FSB will promote and help coordinate the alignment of the activities of the SSBs to address any overlaps or gaps and clarify demarcations in light of changes in national and regional regulatory structures relating to prudential and systemic risk, market integrity and investor and consumer protection, infrastructure, as well as accounting and auditing.
www.financialstabilityboard.org
As part of its mandate, the FSB will:
assess vulnerabilities affecting the global financial system and identify and review on a timely and ongoing basis the regulatory, supervisory and related actions needed to address them, and their outcomes;
promote coordination 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;
support contingency planning for cross-border crisis management, particularly with respect to systemically important firms;
collaborate with the International Monetary Fund (IMF) to conduct Early Warning Exercises; and
undertake any other tasks agreed by its Members in the course of its activities and within the framework of this Charter.
The FSB will promote and help coordinate the alignment of the activities of the SSBs to address any overlaps or gaps and clarify demarcations in light of changes in national and regional regulatory structures relating to prudential and systemic risk, market integrity and investor and consumer protection, infrastructure, as well as accounting and auditing.