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The Financial Stability Board (FSB) was re-established in April 2009 as the successor to the Financial Stability Forum; it brings together national authorities responsible for financial stability (central banks, supervisory authorities and treasury departments), international financial institutions, international regulators and supervisors, committees of central bank experts, the European Central Bank and the European Commission. It promotes international financial stability through enhanced information exchange and cooperation in financial supervision and surveillance. Its Secretariat is located in Basel, and hosted by the Bank of International Settlements and their meetings, usually, take place twice a year.  

The FSB 's mandate is to assess vulnerabilities affecting the financial system, identify and oversee action needed to address them, promote coordination and information exchange among authorities responsible for financial stability, monitor and advise on market developments and their implications for regulatory policy, advise on and monitor best practice in meeting regulatory standards, undertake joint strategic reviews of the policy development work of the international standards setting bodies, set guidelines for and suppport the establishment of supervisory colleges, manage contingency planning for cross-border crisis management and collaborate with the International Monetary Fund (IMF) to conduct Early Warnings Exercises.