Financial Stability Forum
The Financial Stability Forum (ger .: Financial Stability Forum ) (FSF), and Financial Stability Forum called, was an international body, the stability of the financial markets should help. By identifying deficiencies in the financial system or its parts at an early stage , possible financial crises should ultimately be prevented.
At the G20 summit on April 2, 2009 in London, it was decided to continue the Financial Stability Forum as the Financial Stability Board .
The FSF had set up working groups on three problem areas of the international financial markets and prepared reports on them:
- Highly Leveraged Institutions (HLIs) ( hedge funds )
- Offshore Financial Centers (OFCs)
- Regulation of short-term capital movements
history
On October 3, 1998 , the finance ministers and heads of the central banks of the then G7 countries commissioned the President of the Deutsche Bundesbank , Hans Tietmeyer , to develop a new framework for international cooperation between various important financial institutions and control authorities .
Tietmeyer presented his concept of a financial stability forum to them on February 20, 1999 on the occasion of their meeting in Bonn .
The Forum for Financial Stability met for the first time on April 14, 1999 in Washington , USA and consisted of representatives from the finance ministries, central banks and financial supervisory authorities of the G7 countries, representatives of international government bodies and representatives of the International Monetary Fund (IMF), the World Bank and the Bank for International Settlements (BIS) and the OECD , as well as representatives from Singapore and Hong Kong .
On October 8, 2008, Federal Finance Minister Peer Steinbrück called for a stronger role for the FSF to defuse future financial crises as part of an 8-point plan .
At the G20 summit on April 2, 2009 in London, it was decided to strengthen the FSF. Under the name of the Financial Stability Board (FSB), the body received a broader mandate. The circle of members now includes representatives from all G20 member countries, Spain, the European Commission, the IMF and the World Bank.
See also
Individual evidence
- ^ A b Financial Stability Forum re-established as the Financial Stability Board. (PDF; 20 kB) (No longer available online.) Financial Stability Forum, April 2, 2009, archived from the original on April 19, 2009 ; accessed on April 16, 2009 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ Crisis management: Steinbrück calls for an eight-point plan for the financial market. In: Spiegel Online . October 8, 2008, accessed June 10, 2018 .
- ↑ Archive link ( Memento of the original from October 16, 2008 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ Financial Stability Forum decides to broaden its membership. (PDF; 15 kB) (No longer available online.) Financial Stability Forum, March 12, 2009, archived from the original on April 11, 2009 ; accessed on April 16, 2009 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
