Financial Stability Board

The 'Financial Stability Board' (formerly the Financial Stability Forum)[1] is made up of senior representatives of central banks and finance ministries and international financial institutions including the International Monetary Fund , the World Bank and the Bank for International Settlements. It was set up 1999 by the G7 Finance Ministers and Central Bank Governors, to promote international financial stability, improve the functioning of financial markets and reduce the tendency for financial shocks to propagate from country to country. At working level it includes the Working Group on Market and Institutional Resilience whose task is to identify institutional vulnerabilities and recommend action to tackle them. It is serviced by a small secretariat housed at the Bank for International Settlements in Basel, Switzerland.