The simplest way to conceive financial stability is as an absence of instability. The 2007–2008 global financial crisis, or GFC, marked the epitome of modern financial instability. It was in response to this crisis that G-20 leaders established the Financial Stability Board in 2009. Hosted and funded by the BIS, the FSB monitors the global financial system, coordinating the work of domestic financial authorities and other global bodies. Its stated objective is to “address vulnerabilities affecting financial systems in the interest of global financial stability.” Preventing another GFC-like event is presumably the main purpose of this body.
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Source: Cryptocurrency - investing.com
