![]() Strengthening the financial sectors in the emerging market economies and developing countries is part of the mandate of multilateral development banks ( MDBs). As a consequence of the financial crisis, in 2012 the IMF also adapted its surveillance policies and, in this connection, stepped up its financial sector monitoring, paying more attention to issues such as the interaction between macroeconomic policy and financial stability. ![]() ![]() Since its inception, one of its core tasks has been to monitor and stabilise the international monetary system. The International Monetary Fund ( IMF) is the central body for international cooperation in the field of monetary and financial policy. The Bank for International Settlements ( BIS) in Basel and its forums and committees - including the Committee on the Global Financial System ( CGFS) - are particularly important for central banks. The Financial Stability Board ( FSB) is an international forum for identifying and eliminating weaknesses in the international financial system and for cooperation in supervisory and regulatory affairs. Political cooperation in the area of financial and monetary stability in the European Union takes place in the Economic and Financial Affairs Committee ( Ecofin), in some cases involving informal talks with central banks, and in the Economic and Financial Committee ( EFC), on which central banks are represented. ![]() The Bundesbank contributes its expertise and positions.Īt the EU level, the European Systemic Risk Board ( ESRB) and the Financial Stability Committee ( FSC) are the most important committees on macroprudential oversight. In numerous European and international committees and organisations, issues concerning financial stability and the financial and monetary system are analysed and policy measures coordinated. ![]()
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