2010 Reports

The Financial Stability Board: An Effective Fourth Pillar of Global Economic Governance?

At their April 2009 summit in London, the G20 leaders announced their first major international governance innovation: the creation of the Financial Stability Board (FSB). The FSB replaced the Financial Stability Forum (FSF), which had been created almost exactly ten years earlier in the wake of the 1997-1998 East Asian financial crisis. The G20 leaders gave the FSB a stronger mandate to promote global financial stability, a wider membership and a more sophisticated internal organizational structure than its predecessor. Our hope is that this compilation of short memos, produced a year or so after the FSB’s creation, will promote further debate over the mandate, legitimacy, governance and effectiveness of the institution.