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Financial Stability Board: Global Oversight.



  Sep 21, 2023

The Financial Stability Board (FSB) and India



Formation: April 2009
Headquarters: Basel, Switzerland
Formerly called: Financial Stability Forum (FSF)
 
The FSB is an international body monitoring and making recommendations about the global financial system.
Established after the G20 London summit in 2009, it succeeded the Financial Stability Forum (FSF).
The FSB includes G20 major economies, FSF members, and the European Commission.
Hosted and funded by the Bank for International Settlements, it operates as a not-for-profit Swiss association.
 
The FSB is a significant part of global economic governance, alongside the IMF, World Bank, and WTO.
Unlike some multilateral financial institutions, it relies on informal cooperation among members without a formal treaty basis or binding powers.

India’s Engagement with the Financial Stability Board (FSB):

India joined the FSB in 2009 under the G20 initiative, contributing to global financial stability.
It actively participates with three representatives in its Plenary: Secretary (EA), Deputy Governor-RBI, and Chairman-SEBI.
Regular interactions occur through calls and meetings.
The FSDC Secretariat within the Department of Economic Affairs ensures coordination of India’s views with the FSB.


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