What is the financial stability board?

The Financial Stability Board is the global body which gives recommendations and monitors the global financial system.Financial Stability Forum (FSF) was the predecessor of the financial stability board. The Financial Stability Board was established in April 2009, after the summit of G20 which was held in London, United Kingdom (U.K). You can read about the Financial Stability and Development Council (FSDC) – UPSC Notes in the given link.

The Financial Stability Board is headquartered in Basel, Switzerland. It is funded by the Bank for International Settlements. The Board includes the European Commission and all major G20 economies.

Further readings:

1. Global Financial Stability Report 2020 – GFSR Report By IMF
2. Financial Stability Report (FSR) 2020 – An Overview of Biannual RBI Report