Functioning of Intergovernmental Financial Organizations (on the Example of the Financial Stability Board)
Abstract
This article discusses in detail the Financial Stability Board (FSB), established in April 2009 that is the successor to the Financial Stability Forum. The new organization acts in the financial system as a permanent secretariat for financial regulation issues, coordinating the work of standard-setting bodies and organizations. Today, the FSB is recognized as a new institution to ensure global financial stability of the 21st century. The paper notes that inconsistent implementation of the developed principles and defiance of the implementation of recommendations at the national level always lead to the formation of gaps in the financial system of the world. In this case, the system is faced with the influence of suddenly arising negative factors on it, which were previously impossible to predict. It is concluded that the adoption of FSB standards, their consistent, full and timely implementation, as well as confidence in the fulfillment of their obligations depend not only on the state of the national financial systems, but also on the creation of a stable international financial system.
About the Author
P. I. Chuvakhin
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
Senior Lecturer of the Department of Civil Legal Disciplines
36 Stremyanny Lane, Moscow, 117997
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Review
For citations:
Chuvakhin P.I. Functioning of Intergovernmental Financial Organizations (on the Example of the Financial Stability Board). ECONOMICS. LAW. SOCIETY. 2018;(4):49-58. (In Russ.)
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