by Caitlin Kenney

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.