The Financial Stability Board (FSB), came into existence post financial crisis, when the Leaders of the G20 countries decided to convert the then existing Financial Stability Forum into FSB to address vulnerabilities and to develop and implement strong regulatory, supervisory and other policies in the interest of financial stability.
The FSB has been monitoring the shadow banking sector closely for the past five years and publishing its monitoring report. I will like to highlight some of the key findings from its latest report, as they will provide a worthwhile background setting for your deliberations today. 3.