2014年-FSB全球金融稳定委员会_FSB_Review_of_the_Structure_of_its_Representation_3页_217kb

FSB Report to the G20 Brisbane Summit: Review of Representational Structure

Core Content

This report outlines the findings and measures agreed upon by the Financial Stability Board (FSB) in response to the G20's request for a review of its representational structure, following the St Petersburg Summit in 2013. The goal of the review was to enhance the representation of emerging market and developing economies (EMDEs) within the FSB while maintaining the effectiveness of its decision-making processes.

Main Points

1. Principles of Representation

The FSB emphasized the following principles in its review:

• Effectiveness and Representativeness: The current structure should be maintained, with the number of Plenary seats (70) as an upper limit, applied flexibly.
• Objective Criteria: Membership and seat allocations should continue to be based on objective economic and financial indicators.
• Constituency-Based Membership: This approach is not suitable for the FSB, as it is composed of individual authorities rather than jurisdictions, and could lead to more rigid discussions.

2. Enhanced Representation of EMDEs in Plenary Meetings

• Five EMDE jurisdictions (Argentina, Indonesia, Saudi Arabia, South Africa, and Turkey) that previously had only one Plenary seat each will now receive a second seat.
• To maintain the total number of Plenary seats at 70, five international organizations (BCBS, IAIS, IOSCO, IMF, and World Bank) will reduce their seat allocation from two to one, with their second attendee becoming an observer.

3. Strengthening Engagement in Committees and Working Groups

• The FSB will increase the involvement of non-Member authorities in its Committees and Working Groups.
• Member authorities may propose:
  • A representative from a non-Member authority within their jurisdiction to replace or join a Standing Committee or Working Group.
  • Non-Member authorities (from or beyond Member jurisdictions) to be invited as members, though this will be limited due to the need to maintain the effectiveness of these bodies.
• All Committee and Working Group memberships are time-limited and subject to regular review.

4. Ad Hoc Invitations

• The FSB Chair and Committee/Working Group chairs will use discretion to invite non-Member representatives and international organization members to attend individual meetings, where their expertise is relevant.
• These invitations will be communicated to the Plenary, and for members of EMDEs, prior consent from the relevant jurisdiction is required.

5. Integration of Regional Consultative Groups (RCGs)

• RCG co-chairs who are not FSB members will receive a standing invitation to attend Plenary meetings.
• The FSB will explore the involvement of non-Member jurisdictions in the work of Standing Committees and Working Groups, but this will be limited to ensure effectiveness.

6. Sharpening Focus on EMDE Issues

• The proposed changes will enhance the FSB's focus on EMDE-related issues.
• An Emerging Market Forum is scheduled for early 2015 to identify and discuss EMDE priorities for the FSB's global agenda.

7. Future Reviews

• The FSB will conduct a review of its representational structure every five years.

8. Charter and Procedures Updates

• The FSB will update its Charter, Articles of Association, and Procedural Guidelines to reflect the changes in representation.

Key Information

• Objective: Strengthen EMDE representation without compromising the FSB's effectiveness.
• Implementation: Includes seat reallocation, expanded participation in committees, and ad hoc invitations.
• Timeline: The Emerging Market Forum is planned for early 2015.
• Governance: Changes will be reflected in the FSB's formal documents and procedures.
• Participation Limits: All new memberships and invitations are subject to effectiveness and time constraints.

Conclusion

The FSB's review and subsequent measures aim to ensure that EMDEs have a stronger voice in global financial stability discussions, while maintaining the integrity and efficiency of the FSB's structure. The proposed changes reflect a balanced approach between inclusivity and operational effectiveness, and will be implemented through formal amendments and enhanced engagement mechanisms.