Financial Stability Board

The Financial Stability Board (FSB) is an international body that monitors, analyzes, and advises on the vulnerabilities affecting the global financial system. Chaired by the governor of the Bank of England, Andrew Bailey, it brings together senior officials from central banks and treasuries of major economies. The FSB is currently newsworthy due to its engagement with emerging threats to financial stability. Recently, AI startup Anthropic announced it would brief the FSB on potential cyber vulnerabilities posed by its Claude Mythos AI model. Furthermore, top officials from the US Federal Reserve, European Central Bank, and Bank of England participated in a war game to simulate responses to a Lehman-style bank collapse, highlighting the FSB's role in preparing for systemic crises. This proactive approach underscores the FSB's ongoing significance in safeguarding global financial stability against both traditional and novel risks.