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The expanded FSF has been re-established as the Financial Stability Board (FSB) with a broadened mandate to promote financial stability.
The FSB consists of a Chairperson, a Steering Committee, the Plenary with member countries, SSBs and international financial institutions, and a Secretariat. The Chair oversees the Steering Committee, the Plenary and the Secretariat.
Over time, the FSB will promote and help coordinate the alignment of international standard setting activities to address any overlaps or gaps and clarify demarcations in light of changes in national regulatory structures relating to prudential and systemic risk, market integrity and consumer protection, infrastructure, and accounting and auditing.
The FSB will step up its regional outreach activities to broaden the circle of countries engaged in work to promote international financial stability. It will also engage in stronger public relations outreach to raise the visibility of its work and role in the international financial system.
The FSB and IMF will intensify their collaboration, each complementing the other's role as per the 13 November 2008 letter by the Managing Director of the IMF and the Chair of the FSF. The FSB and the IMF will collaborate in conducting Early Warning Exercises and make a joint presentation to the IMFC on financial risks and vulnerabilities and policy recommendations to mitigate such risks and vulnerabilities.