Financial Stability Board

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Financial Stability Board
Founded April 1999
Headquarters Basel, Switzerland
Key People Randal Quarles, head of FSB
Products Global group of regulators
Twitter @FinStbBoard
LinkedIn Profile
Website FSB Forum
Releases Company News

The Financial Stability Board (FSB) is an entity established to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability.

FSB brings together national authorities responsible for financial stability in 24 countries and jurisdictions, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts.

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In July 2018, FSB published a report on the global implications of cryptocurrency. The report concluded that "crypto-assets do not pose a material risk to global financial stability at this time," yet recognized "the need for vigilant monitoring in light of the speed of market developments." In the report, the organization described a framework for monitoring the crypto markets, in collaboration with the Committee on Payments and Market Infrastructures (CPMI). This framework included metrics on trading volumes, pricing, clearing and margining for crypto-asset derivatives.[1][2]

In October 2018, the FSB published another report saying that cryptocurrency poses numerous threats to global financial stability, though the threat is not yet "significant" due to the limited size of the market.[3]


Libra, the cryptocurrency project created by Facebook, became a significant issue on the FSB's radar shortly after its announcement in May 2019. The international FSB said it would be keeping a close eye on the project around the same time, even sending a letter to G20 leaders ahead of their summit in Osaka, Japan; Randal Quarles, the head of the FSB and vice-chairman of the Federal Reserve said that "wider use of new types of cryptoassets for retail payment purposes would warrant close scrutiny by authorities to ensure that they are subject to high standards of regulation."[4]

Key People

Randal Quarles - head of FSB