When the FSB was founded in the wake of the global financial crisis, the “science” of financial stability was still nascent. Now, more than a decade later, we have furthered our understanding of how financial crises result from shocks that act on existing vulnerabilities.
Therefore, the requirement for appropriate policy responses and recognition of its relevance in the policy and transformation agenda, which might also involve adjusting to new global standards and prescriptions, business models and investment constraints or guidelines.