G7, BIS Create Forums To Push Financial Stability

BONN--A meeting between the finance ministers from the Group of Seven (G7) countries confirmed the formation of the Financial Stability Forum (FSF). This working group is being established in accordance with a series of recommendations set forth by German Bundesbank President Hans Tietmeyer. The forum will assess issues and vulnerabilities in the global financial system and thus help to mitigate systemic risks.

The FSF reports to G7 ministers and central bank governors. Its members include

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