First is the financial institutions risk management practices including liquidity management, stress testing, and assessment of counterparty risk. Second, the FSF group is also probing valuation and risk disclosures, including the role of credit-rating agencies. Third, it is re-examining the principles and practices of prudential oversight, particularly with respect to off-balance-sheet exposures.
And fourth, it is exploring issues related to the authorities' capacity to respond to market turbulence, including the tools available to central banks and supervisors in times of distress. Numerous other bodies – IOSCO, the Basle Committee on Banking Supervision, the OECD, BIS, the G-20, and the IMF – are also addressing many of these issues.