{"id":3350,"date":"2023-02-26T05:24:00","date_gmt":"2023-02-25T23:54:00","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=3350"},"modified":"2025-03-26T11:53:17","modified_gmt":"2025-03-26T06:23:17","slug":"financial-stability-board-fsb","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/financial-stability-board-fsb\/","title":{"rendered":"Financial Stability Board (FSB)"},"content":{"rendered":"<h2>About Financial Stability Board (FSB):<\/h2>\n<ul>\n<li>FSB is an <strong>international body<\/strong> that <strong>monitors and makes recommendations<\/strong> about the <strong>global financial system<\/strong>.<\/li>\n<li>It was <strong>established in April 2009 after the G20 Summit<\/strong> in London as the <strong>successor to the Financial Stability Forum.<\/strong><\/li>\n<li><strong>Mandate<\/strong>:<\/li>\n<li>To <strong>coordinate<\/strong> at the international level the <strong>work of national financial authorities<\/strong> and <strong>international standard-setting bodies<\/strong> and to develop and promote <strong>the implementation<\/strong> of effective regulatory, supervisory, and other <strong>financial sector policies.<\/strong><\/li>\n<li>The FSB, working through its members, <strong>seeks to strengthen financial systems<\/strong> and increase the <strong>stability of international financial markets<\/strong>.\u00a0<\/li>\n<li><strong>Headquarters: Basel, Switzerland.<\/strong><\/li>\n<li>The <strong>board includes all G20 major economies<\/strong>.<\/li>\n<li>The FSB consists of <strong>68 member institutions<\/strong>. It comprises <strong>several central banks<\/strong>, <strong>ministries of finance<\/strong>, and <strong>supervisory and regulatory authorities<\/strong> from 25 jurisdictions, as well as <strong>10 international organizations<\/strong> and six Regional Consultative Groups (RCGs).<\/li>\n<li><strong>Framework:<\/strong><\/li>\n<li><strong>The Plenary<\/strong>, which serves as the <strong>sole decision-making body.<\/strong><\/li>\n<li><strong>The Steering Committee<\/strong>, which takes forward operational work in between Plenary meetings.<\/li>\n<li><strong>Three Standing Committees<\/strong>, each with <strong>specific<\/strong> but complementary <strong>responsibilities<\/strong>.<\/li>\n<li>The <strong>FSB\u2019s decisions are not legally binding on its members<\/strong>.<\/li>\n<li><strong>India and FSB:<\/strong> India is an <strong>active Member of the FSB<\/strong>, <strong>having three seats in its Plenary<\/strong> represented by <strong>Secretary (Dept of Economic Affairs<\/strong>), <strong>Deputy Governor-RBI,<\/strong> and <strong>Chairman-SEBI.<\/strong><\/li>\n<\/ul>\n<h3>About International Monetary Fund (IMF):<\/h3>\n<ul>\n<li>It is a <strong>United Nations (UN) specialized agency<\/strong> <strong>founded at the Bretton Woods Conference in 1944.<\/strong><\/li>\n<li><strong>Objective<\/strong>: To <strong>secure international monetary cooperation<\/strong>, to <strong>stabilize currency exchange rates<\/strong>, and to <strong>expand international liquidity<\/strong> (access to hard currencies).<\/li>\n<li><strong>Headquarters: Washington D.C, USA.<\/strong><\/li>\n<li>Currently, it has <strong>190 member countries.<\/strong><\/li>\n<li>The IMF&#8217;s <strong>resources mainly come from the money that countries pay as their capital subscription (quotas)<\/strong> when they become members.\u00a0<\/li>\n<li><strong>Each member of the IMF is assigned a quota<\/strong> based broadly on its relative position in the world economy.<\/li>\n<li><strong>Functions:<\/strong><\/li>\n<li>The <strong>IMF provides loans<\/strong>\u2014including <strong>emergency loans<\/strong>\u2014to member countries <strong>experiencing <\/strong>actual or potential <strong>balance of payments problems.<\/strong><\/li>\n<li>It provides <strong>technical assistance and training to governments<\/strong>, including central banks, finance ministries, revenue administrations, and financial sector supervisory agencies.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3>Q1)\u00a0What is the mandate of the Financial Stability Board (FSB)?<\/h3>\n<p>The FSB monitors and assesses vulnerabilities affecting the global financial system and proposes actions needed to address them. In addition, it monitors and advises on market and systemic developments, and their implications for regulatory policy.<\/p>\n<p><strong>Source:<\/strong>\u00a0<a href=\"https:\/\/www.livemint.com\/news\/india\/india-asks-imf-fsb-to-prepare-technical-paper-on-regulating-crypto-11677321328384.html\" target=\"_blank\" rel=\"nofollow noopener\"><u>India asks IMF and FSB to prepare a technical paper on regulating crypto assets<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FSB is an international body that monitors and makes recommendations about the global financial system.<\/p>\n","protected":false},"author":5,"featured_media":3351,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3350","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/3350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=3350"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/3350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/3351"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=3350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=3350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=3350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}