Concept
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The Financial Stability Board (FSB) (previously named the Financial Stability Forum) is an international institution which brings together participants from regulatory bodies, central banks and finance ministries from around the world. It coordinates the formation and dissemination of regulatory policies and practices from various participants with the aim of creating standards for international regulation and policies that are aligned to the represented parties.
Because the parties involved have great influence over the financial sectors of their respective countries, the FSB has substantial influence in the agreements that result from their engagements.
This brings many influential members of financial markets to the same table and encourages them to debate and agree on policy and regulatory direction. The FSB also follows upon the agreed-upon actions, which in turn encourages the implementation of these agreements.