Jump to content

Financial Stability Forum: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
GreenC bot (talk | contribs)
Bots
2,220,127 edits
m Reformat 2 archive links. Wayback Medic 2.1
Rescuing 4 sources and tagging 0 as dead. #IABot (v1.5.4)
Line 1: Line 1:
The '''Financial Stability Forum''' ('''FSF''') was a group consisting of major national financial authorities such as [[finance ministry|finance ministries]], [[central bank]]ers, and international financial bodies. The Forum was founded in 1999 to promote international financial stability. Its founding resulted from discussions among Finance Ministers and Central Bank Governors of the [[G7]] countries, and a study which they commissioned.<ref name="Founding">[http://www.fsforum.org/about/genesis_of_the_fsf.html Genesis of the FSF] {{webarchive |url=https://web.archive.org/web/20080614000000/http://www.fsforum.org/about/genesis_of_the_fsf.html |date=June 14, 2008 }}, FSF website.</ref> The Forum facilitated discussion and co-operation on supervision and surveillance of financial institutions, transactions and events. FSF was managed by a small secretariat housed at the [[Bank for International Settlements]] in [[Basel]], [[Switzerland]].<ref name="FSF home">[http://www.fsforum.org fsforum.org], main website.</ref> The FSF membership included about a dozen nations who participate through their central banks, financial ministries and departments, and securities regulators, including: the [[United States]], [[Japan]], [[Germany]], the [[United Kingdom]], [[France]], [[Italy]], [[Canada]], [[Australia]], the [[Netherlands]] and several other industrialized economies as well as several international economic organizations.<ref>[http://www.fsforum.org/about/who_we_are.html FSF:Who we are] {{webarchive |url=https://web.archive.org/web/20080614000000/http://www.fsforum.org/about/who_we_are.html |date=June 14, 2008 }}.</ref> At the G20 summit on November 15, 2008 it was agreed that the membership of the FSF will be expanded to include emerging economies, such as China. The [[2009 G-20 London summit]] decided to establish a successor to the FSF, the [[Financial Stability Board]]. The FSB includes members of the G20 who were not members of FSF.<ref>{{cite web|url=http://www.fsforum.org/press/pr_090312b.pdf |title=Archived copy |accessdate=2016-04-30 |deadurl=yes |archiveurl=https://web.archive.org/web/20090411064057/http://www.fsforum.org/press/pr_090312b.pdf |archivedate=2009-04-11 |df= }}</ref>
The '''Financial Stability Forum''' ('''FSF''') was a group consisting of major national financial authorities such as [[finance ministry|finance ministries]], [[central bank]]ers, and international financial bodies. The Forum was founded in 1999 to promote international financial stability. Its founding resulted from discussions among Finance Ministers and Central Bank Governors of the [[G7]] countries, and a study which they commissioned.<ref name="Founding">[http://www.fsforum.org/about/genesis_of_the_fsf.html Genesis of the FSF] {{webarchive |url=https://web.archive.org/web/20080614000000/http://www.fsforum.org/about/genesis_of_the_fsf.html |date=June 14, 2008 }}, FSF website.</ref> The Forum facilitated discussion and co-operation on supervision and surveillance of financial institutions, transactions and events. FSF was managed by a small secretariat housed at the [[Bank for International Settlements]] in [[Basel]], [[Switzerland]].<ref name="FSF home">[http://www.fsforum.org fsforum.org] {{webarchive|url=https://web.archive.org/web/20090512222115/http://www.fsforum.org/ |date=2009-05-12 }}, main website.</ref> The FSF membership included about a dozen nations who participate through their central banks, financial ministries and departments, and securities regulators, including: the [[United States]], [[Japan]], [[Germany]], the [[United Kingdom]], [[France]], [[Italy]], [[Canada]], [[Australia]], the [[Netherlands]] and several other industrialized economies as well as several international economic organizations.<ref>[http://www.fsforum.org/about/who_we_are.html FSF:Who we are] {{webarchive |url=https://web.archive.org/web/20080614000000/http://www.fsforum.org/about/who_we_are.html |date=June 14, 2008 }}.</ref> At the G20 summit on November 15, 2008 it was agreed that the membership of the FSF will be expanded to include emerging economies, such as China. The [[2009 G-20 London summit]] decided to establish a successor to the FSF, the [[Financial Stability Board]]. The FSB includes members of the G20 who were not members of FSF.<ref>{{cite web|url=http://www.fsforum.org/press/pr_090312b.pdf |title=Archived copy |accessdate=2016-04-30 |deadurl=yes |archiveurl=https://web.archive.org/web/20090411064057/http://www.fsforum.org/press/pr_090312b.pdf |archivedate=2009-04-11 |df= }}</ref>


==Meetings and actions==
==Meetings and actions==
Line 6: Line 6:
At this meeting, the FSF discussed a report to be delivered to [[G7]] Finance Ministers and Central Bank Governors in April 2008. it identifies key weaknesses underlying current financial turmoil, and recommends actions to improve market and institutional resilience. The FSF discussed work underway at the [[International Monetary Fund]] (IMF) and [[Organisation for Economic Co-operation and Development]] (OECD) with regard to [[sovereign wealth fund]]s (SWFs). The IMF is working closely with SWFs to identify a set of voluntary best practice guidelines, and is focusing on the governance, institutional arrangements and transparency of SWFs.<ref name="BIS 0308"/>
At this meeting, the FSF discussed a report to be delivered to [[G7]] Finance Ministers and Central Bank Governors in April 2008. it identifies key weaknesses underlying current financial turmoil, and recommends actions to improve market and institutional resilience. The FSF discussed work underway at the [[International Monetary Fund]] (IMF) and [[Organisation for Economic Co-operation and Development]] (OECD) with regard to [[sovereign wealth fund]]s (SWFs). The IMF is working closely with SWFs to identify a set of voluntary best practice guidelines, and is focusing on the governance, institutional arrangements and transparency of SWFs.<ref name="BIS 0308"/>


On April 12, 2008 the FSF delivered a [http://www.fsforum.org/publications/FSF_Report_to_G7_11_April.pdf report] to the G7 Finance Ministers which details out its recommendations for enhancing the resilience of the financial markets and financial institutions. These are in five areas:
On April 12, 2008 the FSF delivered a [https://web.archive.org/web/20080724030541/http://www.fsforum.org/publications/FSF_Report_to_G7_11_April.pdf report] to the G7 Finance Ministers which details out its recommendations for enhancing the resilience of the financial markets and financial institutions. These are in five areas:
*Strengthened prudential oversight of capital, liquidity and risk management
*Strengthened prudential oversight of capital, liquidity and risk management
* Enhancing transparency and valuation
* Enhancing transparency and valuation
Line 17: Line 17:


==External links==
==External links==
*[http://www.fsforum.org fsforum.org] - main website
*[https://web.archive.org/web/20090512222115/http://www.fsforum.org/ fsforum.org] - main website
*[http://www.fsforum.org/publications/FSF_Report_to_G7_11_April.pdf April 2008 "Report of the Financial Stability Forum on Enhancing Market and Institutional Resilience"]
*[https://web.archive.org/web/20080724030541/http://www.fsforum.org/publications/FSF_Report_to_G7_11_April.pdf April 2008 "Report of the Financial Stability Forum on Enhancing Market and Institutional Resilience"]
*[http://www.bis.org/search/?q=Financial+Stability+Forum+&scope=&mp=phrase&sndex=alike&dr=-1&pi=any&c=10&sb=1&adv=1&cb=0 List of FSF press releases], at BIS website.
*[http://www.bis.org/search/?q=Financial+Stability+Forum+&scope=&mp=phrase&sndex=alike&dr=-1&pi=any&c=10&sb=1&adv=1&cb=0 List of FSF press releases], at BIS website.


Revision as of 22:47, 30 September 2017

The Financial Stability Forum (FSF) was a group consisting of major national financial authorities such as finance ministries, central bankers, and international financial bodies. The Forum was founded in 1999 to promote international financial stability. Its founding resulted from discussions among Finance Ministers and Central Bank Governors of the G7 countries, and a study which they commissioned.[1] The Forum facilitated discussion and co-operation on supervision and surveillance of financial institutions, transactions and events. FSF was managed by a small secretariat housed at the Bank for International Settlements in Basel, Switzerland.[2] The FSF membership included about a dozen nations who participate through their central banks, financial ministries and departments, and securities regulators, including: the United States, Japan, Germany, the United Kingdom, France, Italy, Canada, Australia, the Netherlands and several other industrialized economies as well as several international economic organizations.[3] At the G20 summit on November 15, 2008 it was agreed that the membership of the FSF will be expanded to include emerging economies, such as China. The 2009 G-20 London summit decided to establish a successor to the FSF, the Financial Stability Board. The FSB includes members of the G20 who were not members of FSF.[4]

Meetings and actions

The Financial Stability Forum met in Rome on 28–29 March 2008 in connection with the Bank for International Settlements. Members discussed current challenges in financial markets, and various policy options to address them from this point forward.[5]

At this meeting, the FSF discussed a report to be delivered to G7 Finance Ministers and Central Bank Governors in April 2008. it identifies key weaknesses underlying current financial turmoil, and recommends actions to improve market and institutional resilience. The FSF discussed work underway at the International Monetary Fund (IMF) and Organisation for Economic Co-operation and Development (OECD) with regard to sovereign wealth funds (SWFs). The IMF is working closely with SWFs to identify a set of voluntary best practice guidelines, and is focusing on the governance, institutional arrangements and transparency of SWFs.[5]

On April 12, 2008 the FSF delivered a report to the G7 Finance Ministers which details out its recommendations for enhancing the resilience of the financial markets and financial institutions. These are in five areas:

  • Strengthened prudential oversight of capital, liquidity and risk management
  • Enhancing transparency and valuation
  • Changes in the role and uses of credit ratings
  • Strengthening the authorities' responsiveness to risks
  • Robust arrangements for dealing with stress in the financial system [1]

References

  1. ^ Genesis of the FSF Archived June 14, 2008, at the Wayback Machine, FSF website.
  2. ^ fsforum.org Archived 2009-05-12 at the Wayback Machine, main website.
  3. ^ FSF:Who we are Archived June 14, 2008, at the Wayback Machine.
  4. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2009-04-11. Retrieved 2016-04-30. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)CS1 maint: archived copy as title (link)
  5. ^ a b Financial Stability Forum meets in Rome, 29 March 2008, Press release, Website of Bank for International Settlements
Retrieved from "https://en.wikipedia.org/w/index.php?title=Financial_Stability_Forum&oldid=803172624"