CIMA hosts regional Financial Stability Board meeting

The Cayman Islands Monetary Authority will host the fourth meeting of the Regional Consultative Group for the Americas of the Financial Stability Board on 27 May.  

The board was established in 2009 to coordinate the work of national financial authorities and international standard-setting bodies at the international level, and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability.  

It 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.  

The FSB Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.  

Six regional consultative groups of the FSB were established in 2011, in response to a call from the G20 Leaders at their Toronto Summit the previous year, to bring together financial authorities from 89 FSB member and nonmember countries to exchange views on vulnerabilities affecting financial systems and on initiatives to promote stability.  

The regional groupings are the Americas, Asia, Commonwealth of Independent States, Europe, Middle East and North Africa, as well as Sub-Saharan Africa.  

Through these six regional groups, the board is able to develop global financial policy initiatives through an inclusive process. 

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