FSB sees signs of improvement
30 June 2009
The FSB noted signs of improvement in the global macro-economic outlook and also in some financial markets, especially in the funding markets. They also agreed to work on exit strategies from current financial system policies.
The FSB noted signs of improvement in the global macro-economic outlook and in some financial markets, especially funding markets. Banks have raised capital from the private sector, but the process of restructuring and strengthening bank balance sheets is not yet completed
The FSB agreed on the need to develop and consult with each other on plans for exit strategies from the financial system policies put in place in response to the crisis, although these should only be implemented once conditions are suitable.
This was the first meeting since the Financial Stability Forum (FSF) was re-established as the FSB with an expanded membership and a broader mandate to promote financial stability.
The new structures of the FSB include, in addition to the FSB Plenary, a Steering Committee and three Standing Committees – for Vulnerabilities Assessment; Supervisory and Regulatory Co-operation; and Standards Implementation.
© Financial Stability Forum
