Finance Track

Financial Sector Issues

Financial Sector Issues are discussed directly by Finance Ministers and Central Bank Governors, and do not have a specific working group. On certain occasions, matters are previously dealt with in preparatory meetings with the Deputies from the Ministries of Finance and Central Banks.

The topics are developed by international organizations under the presidency’s coordination. Issues referring to financial stability and the development of solutions for the area are also discussed. The topics on the agenda largely reflect the agenda of the Bank for International Settlements (BIS), the world's oldest international financial institution, and the Financial Stability Board.

Established in 1930, the BIS is the world's oldest international financial institution.Its mission is to act as a bank for central banks; assist central banks and other financial authorities in maintaining their monetary and financial stability; and foster international cooperation in these areas of interest. The Central Bank of Brasil (Banco Central do Brasil/BCB) has been a shareholder of BIS since 1997.

The BIS coordinates several committees of which the BCB is an active representative, such as the Basel Committee on Banking Supervision, the Global Financial System Committee, the Payments and Market Infrastructures Committee and the Markets Committee.

The FSB has the mission of promoting international financial stability. To this end, it coordinates the work of national financial authorities and international organizations that define norms and standards at a global level, in order to develop and promote the effective use of regulatory, supervisory and other financial sector policies. Aiming for global financial stability, the FSB acts in collaboration with international financial institutions to reduce vulnerabilities in financial systems.

Brasil has been a member of the FSB since 2009. The BCB operates in several FSB initiatives — contributing from the development of initial studies on the impacts of potential vulnerabilities to the development of public regulatory and supervisory policies, as well as subsequent monitoring of their effectiveness.