G20 Summit results Show International Financial Stability Committee to begin operation

Reporter: Priory, Swiss Basel, Switzerland-the Financial Stability Committee, set up by the group of 20 London financial summit in early April this year, began operation on 27th. The London Financial summit decided to replace the Financial Stability Forum with the new Financial Stability Board.　　The new body under the expansion of institutions, more extensive functions, will assume the global financial regulatory system to reform the task.　　It is understood that the specific functions of the Financial Stability Board include: to assess the vulnerability of the global financial system, to oversee national improvement actions, to promote cooperation and information exchange among national regulators, to advise on national regulatory policies and regulatory standards, to coordinate the work of international standard-setting bodies, and to formulate contingency plans for cross-border risk management In order to perform these functions, the Financial Stability Board has established a plenary and steering Committee, with the establishment of three Standing committees ——— vulnerability assessment committees, regulatory and management cooperation committees and standard implementation committees.