Financial Market Stability Board commences activities

The newly created Austrian Financial Market Stability Board(FMSB) commenced its activities in September 2014. Its primary tasks include strengthening cooperation on macroprudential issues and promoting financial market stability. Based on the expertise of the institutions represented, the committee discusses issues relevant to financial market stability and can make recommendations to the Financial Market Authority or issue risk warnings.

The committee is made up of representatives from the Federal Ministryof Finance(BMF), the Fiscal Advisory Council, the Financial Market Authority(FMA) and the Austrian National Bank(OeNB). Chief Research Officer Dr. Ulrich Schuh was also nominated as a member of the committee as a representative of the Fiscal Advisory Council.