Financial stability board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established by the G20 in April 2009 in response to the global financial crisis of 2008. The FSB is chaired by Mark Carney, Governor of the Bank of England, and its Secretariat is located in Basel, Switzerland. The FSB's purpose is to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies. It brings together national authorities responsible for financial stability in 24 countries and jurisdictions, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts. The FSB also conducts outreach with approximately 70 other jurisdictions through its six Regional Consultative Groups.
Amidst turmoil in crypto currencies market, India is working with the Financial Stability Board (FSB) so that a consensus on a roadmap for regulating virtual assets could be agreed at during India's G-20 presidency itself, Economic Affairs Secretary