Similarly, the FSB has put forward the principles for cross-border cooperation on crisis management that includes effective coordination amongst the national supervisory agencies, central banks and government finance ministries for making advanced preparations for managing the financial crises.
In the backdrop of the recent Global Financial Crises, the remuneration of Directors and Executives of banks and financial institutions have lately come under scrutiny around the globe. In order to put things in the right direction, there has been a growing effort globally to address the issues related to rationalization of compensation in the financial sector.