How did we respond in the crisis? What lessons can we draw? And where can we sharpen our focus for the road ahead? Reacting and Responding to Crisis: Leveraging Cooperation to Ensure Stability and Contain Spillovers The period between the Global Financial Crisis and the onset of the COVID event provided some calm for an organization that was built to address crisis.
But the FSB was not idle. During that decade, FSB members focused on enhancing the global financial system’s resilience to shocks. Together, we strengthened our respective frameworks for analyzing vulnerabilities and monitoring risks. We developed measured policy responses to address those vulnerabilities and risks and assessed reforms made in the wake of the Global Financial Crisis.