Financial Stability Institute
Encyclopedia
The Financial Stability Institute (FSI), is one of the bodies hosted by the Bank of International Settlements (BIS) at its headquarters in Basel
. Established in 1999 by the BIS and the Basel Committee on Banking Supervision
, its primary role is to improve the co-ordination between national Bank Regulators through holding seminars and acting as a clearing house for information on regulatory practice.
It was set up in response to the East Asian financial crisis
of 1997, as the result of a perceived weakness in co-ordination between national regulators in matters of training and general understanding of financial systems. As a result, its work is concentrated in the regulators of the non-G-10
nations.
Its current Chairman is John G. Heimann
.
implementation in their jurisdictions.
Basel
Basel or Basle In the national languages of Switzerland the city is also known as Bâle , Basilea and Basilea is Switzerland's third most populous city with about 166,000 inhabitants. Located where the Swiss, French and German borders meet, Basel also has suburbs in France and Germany...
. Established in 1999 by the BIS and the Basel Committee on Banking Supervision
Basel Committee on Banking Supervision
The Basel Committee on Banking Supervision is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1975. It provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance...
, its primary role is to improve the co-ordination between national Bank Regulators through holding seminars and acting as a clearing house for information on regulatory practice.
It was set up in response to the East Asian financial crisis
East Asian financial crisis
The Asian financial crisis was a period of financial crisis that gripped much of Asia beginning in July 1997, and raised fears of a worldwide economic meltdown due to financial contagion....
of 1997, as the result of a perceived weakness in co-ordination between national regulators in matters of training and general understanding of financial systems. As a result, its work is concentrated in the regulators of the non-G-10
Group of Ten (economic)
The Group of Ten or G-10 refers to the group of countries that have agreed to participate in the General Arrangements to Borrow...
nations.
Its current Chairman is John G. Heimann
John G. Heimann
John G. Heimann was Comptroller of the Currency from 1977 to 1981.John G. Heimann, an investment banker and former New York State Supervisor of Banking and Commissioner of Housing and Community Development, was appointed by President Jimmy Carter....
.
Publications
The FSI has released a total of 6 occasional papershttp://www.bis.org/fsi/fsipapers.htm, of which 2 have detailed the expectations of the various global regulators regarding Basel IIBasel II
Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision...
implementation in their jurisdictions.