In advance of the G20 Leaders’ Summit in Hamburg this weekend the Financial Stability Board (FSB) today launched a video for the public explaining how regulatory reforms since the financial crisis have made the financial system safer, simpler and fairer.
Speaking about the video FSB Chair Mark Carney said “Over the past decade, G20 financial reforms have fixed the fault lines that caused the global financial crisis. Often, this progress has been obscured by the complexity and jargon associated with the effort. This video explains in straightforward language how G20 reforms coordinated by the FSB have made the financial system safer, simpler and fairer. And it highlights how maintaining a strong international regulatory system is essential for the financial system to best serve households and businesses across the G20.”
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 in the interest of financial stability. It brings together national authorities responsible for financial stability in 24 countries and jurisdictions, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts. Through its six Regional Consultative Groups, the FSB conducts outreach with and receives input from an additional approximately 65 jurisdictions.
The FSB is chaired by Mark Carney, Governor of the Bank of England. Its Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.
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 in the interest of financial stability. It brings together national authorities responsible for financial stability in 24 countries and jurisdictions, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts. Through its six Regional Consultative Groups, the FSB conducts outreach with and receives input from an additional approximately 65 jurisdictions.
The FSB is chaired by Mark Carney, Governor of the Bank of England. Its Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.
