Adam Posen of the Peterson Institute will be on the podcast today to help us break down the final draft of the G-20 communique. A significant chunk of the communique addressed the creation of the Financial Stability Board as a successor to the Financial Stability Forum. Reading the communique, I wondered if that was just a name change or something more? According to Posen, it's a little bit of both.
By calling it a board, they are tying to convey that it's got not just a talking shop, which is a forum, but that it has some oversight responsibility. It gives it more of an air of authority that's why you call it a board.
It's not just the name that's changing, the new group will also be expanding its membership to include more emerging markets. And stay tuned -- Posen says we will be hearing more a lot more from the FSB in the future about international regulation and oversight.
categories: What I Didn't Understand Today
Comments
Please note that all comments must adhere to the NPR.org discussion rules and terms of use. See also the Community FAQ.
You must be logged in to leave a comment. Login | Register
More information needed to participate in the NPR online community.. Add this information