FSF to examine causes of recent financial market turmoil and make recommendations
The FSF has sent a preliminary report to G7 Finance Ministers and Central Bank Governors setting out its work plan to examine the underlying causes of recent financial market turmoil and to make appropriate recommendations. To address these issues, the FSF has set up a Working Group on Market and Institutional Resilience. The Group recently met in London to begin its work. It will:
– develop a diagnosis of the causes of recent events;
– identify the weaknesses that merit attention from policymakers; and
– recommend actions needed to enhance market discipline and institutional resilience.
The work of international supervisory, regulatory and central bank committees will play an important role in the Group’s work.