The FSB 's predecessor organization , the Financial Stability Forum ( FSF ) , had emerged from a group of finance ministries , central bankers , and international financial bodies , which had been founded in 1999 to promote international financial stability by the finance ministers and central bank governors of G7 countries . The FSF facilitated discussion and cooperation on supervision and surveillance of financial institutions , transactions , and events . FSF was managed by a small secretariat housed at the Bank for International Settlements in Basel , Switzerland . The FSF membership included about a dozen nations who participate through their central banks , financial ministries and departments , and securities regulators , including : the United States , Japan , Germany , the United Kingdom , France , Italy , Canada , Australia , the Netherlands and several other industrialized economies as well as several international economic organizations . At the G20 summit on 15 November 2008 , it was agreed that the membership of the FSF will be expanded to include emerging economies , such as China . The 2009 G20 London summit decided to establish a successor to the FSF , the Financial Stability Board ( FSB ) to include members of the G20 who had not been FSF members
2009 G20 London summit
2009 G20 London summit
Financial Stability Board