Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Financial stability definition

What does Financial stability mean? In legal practice, financial stability describes a financial system that is resilient and continues to provide critical services (such as payments, lending and risk transfer) without disruption from shocks or the failure of individual firms. In the UK, the term is both descriptive and used in legislation. The bank of england Act 1998 (as amended by the Financial Services Act 2012) gives the Bank a Financial Stability Objective to protect and enhance the stability of the financial systems of the United Kingdom. The Financial Policy Committee, established under the same Act, has a related objective to protect and enhance the...

Financial Stability Board: Legal Status, Mandate, Membership, Governance and Activities — A Practitioner’s Overview

Published by a LexisNexis Financial Services expert

Practice notes

FSB

Formed in April 2009 at the London G20 summit, the FSB succeeded the Financial stability Forum (FSF). It was set up after G20 leaders called for an expanded FSF membership to enhance its effectiveness as a vehicle for national authorities, standard-setting bodies (SSBs) and international financial institutions (IFIs), and to oversee the implementation of robust regulatory, supervisory and other financial sector policies. The FSB functions as a formalised international convening and co-ordinating body, based in Basel, Switzerland. It advances international financial stability by working through, and co-ordinating, national competent authorities and international standard-setting bodies as they develop regulatory, supervisory and other financial sector policies. Its particular aim is to fortify financial systems and improve the stability of international financial markets, bringing together national authorities responsible for financial stability in significant financial sectors, namely central banks, treasuries, supervisory agencies, sector-specific international grouping of regulators and supervisors, IFIs and SSBs...

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Web page updated on 21/05/2026

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