As is customary at its meetings, the FSF will assess potential vulnerabilities in the international financial system. This will include an evaluation of the impact of recent financial market developments and the evolving macroeconomic situation on financial systems.

The FSF will also discuss progress in work to strengthen financial reporting arrangements, including issues related to the implementation of international accounting and auditing standards, and audit quality and auditor oversight. The Forum will also consider issues related to offshore financial centres, credit risk transfer activity, transparency and disclosure in the reinsurance sector, and business continuity planning.

The FSF brings together national authorities responsible for financial stability in significant international financial centres, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts. It was established by the G7 finance ministers and central bank governors in February 1999 to promote international financial stability through enhanced information exchange and international cooperation in financial market supervision and surveillance. The FSF is chaired Roger W Ferguson Jr, Vice Chairman of the Board of Governors of the Federal Reserve System. The FSF’s Secretariat is based at the Bank for International Settlements in Basel, Switzerland.

For further information on the FSF, its membership and previous FSF meetings, visit the FSF website at www.fsforum.org.