6The Financial Stability Board
Its creation, structure, and processes1
Introduction
Crises tend to force actors together and to clarify common goals. When actors collectively face possible disaster, the failures of the past become clear, as does the necessity for change, and the search for solutions must include the broadest actions possible. In this way, financial and economic crises increase possible policy options, and actions thought impossible in normal times become possible in the face of unprecedented shocks.
The global economic and financial crisis of 2007–2008 was such an event. The world’s ...