Established in 1999 by the BIS and the Basel Committee on Banking Supervision, its primary role is to improve the co-ordination between national banks regulators through holding seminars and acting as a clearing house for information on regulatory practice.
History
The FSI was set up in response to the East Asian financial crisis of 1997, as the result of a perceived weakness in co-ordination between national regulators in matters of training and general understanding of financial systems.[1] As a result, its work is concentrated in the regulators of the non-G-10 nations.[2]
The FSI has released 11 occasional papers,[5] of which two have detailed the expectations of the various global regulators regarding Basel II implementation in their jurisdictions.
