When did Financial Stability Board come into existence?

Solution

The Financial Stability Board was created in April 2009 as the successor to the Financial Stability Forum (FSF). The FSF was founded in 1999 during a G7 summit to ease tensions between ministries of finance and central banks. The FSB is currently consists of twenty-four member countries - United Kingdom, Germany, France, Spain, United States, Canada, Russia, Mexico, Indonesia, Italy, Japan, Brazil, China, Argentina, Australia, Hong Kong, India, Netherlands, Saudi Arabia, Singapore , South Africa, South Korea, Switzerland and Turkey – as well as the most relevant financial institutions - the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the Organization for Economic Co-operation and Development and the World Bank.