. /.  WORLD TRADE  
ORGANIZATION  WT/WGTDF/W/26 
24 September 2004  
 
(04-4034) 
Working Group on Trade, Debt and Finance  
   
FINANCIAL STABILITY FORUM:  FACT SHEET
1 
  
1. Function and Role  
1. The Financial Stability Forum (FSF) brings together senior representatives of national 
financial authorities (e.g., central banks, supe rvisory authorities and treasury departments), 
international financial institutions , international regulatory and supe rvisory groupings, committees of 
central bank experts and the European Central Ba nk, to promote international financial stability 
through enhanced cooperation in fi nancial supervision and surveilla nce. The FSF is serviced by a 
small Secretariat housed at the Bank for Interna tional Settlements (BIS) in Basel, Switzerland.  
2. The FSF was created in February 1999 and convened in April the same year, in the aftermath 
of the Asian financial crisis, and at the initia tive of G7 Finance Ministers and Central Bank 
Governors, in order to promote international fina ncial stability, improve the functioning of financial 
markets and reduce the tendency for financial shoc ks to propagate from country to country, thus 
destabilizing the world economy. 
3. The exact mandate of the FSF is to:  
(a) assess vulnerabilities affecting the international financial system; 
(b) identify and oversee action need ed to address these; and  
(c) improve co-ordination and information exchange among the various authorities 
responsible for financial stability. 
4. The FSF seeks to give momentum to a broad- based multilateral agenda for strengthening 
financial systems and the stability of internati onal financial markets. The necessary changes are 
enacted by the relevant national and international financial authorities. 
5. The FSF meets biannually, usually in March and September, or more frequently, as needed.  
To date, it has held bi-annual plenary meetings and teleconferences as required. Since 2001, the FSF 
has also held regional meetings with non-member fi nancial authorities in Latin-America, Asia-Pacific, 
and Central and Eastern Europe. In these meeti ngs, Forum members and regional non-members have 
exchanged views on issues relevant to the stabilit y of the global financial system and of regional 
systems. The FSF also organizes roundtable discussions with the private sector on issues of particular 
interest. 
6. The FSF does not have permanent working groups .  However, ad hoc working groups have 
analysed particular issues in greater detail, in cluding the operation of highly leveraged institutions, 
capital flows, implementation of st andards, offshore financial centr es, large and complex financial 
institutions and deposit insurance. 
                                                     
 
1 Information contained in this fact sheet has been drawn from the websites of the Bank of International 
Settlements (http://www.bis.org), and of the Fina ncial Stability Forum (http://www.fsforum.org). WT/WGTDF/W/26 
Page 2  
 
7. The Secretariat of the FSF is composed of a Secretary-General and a staff of seven seconded 
from the IMF, the World Bank, the BIS and FSF member countries. 
8. Reports and other publications can be found on the FSF website. 
2. Membership  
9. The Membership of the FSF is composed of  26 national authorities (including Australia, 
Canada, Hong Kong, France Germany, Italy, Jap an, the Netherlands, Singapore, United Kingdom, 
and the United States), plus international fina ncial institutions (IMF, World Bank, and BIS), 
international standard setting, re gulatory and supervisory groupings and certain committees of central 
bank experts.  
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