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Many areas of global finance 'remain vulnerable'.

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The Financial Stability Board (FSB) has warned that many areas of global finance remain vulnerable and has called for "prompt action".

The FSB was established in April 2009 to coordinate the work of national financial authorities and international standard-setting bodies at international level and to "develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability".

It brings together national authorities responsible for financial stability in 24 countries and jurisdictions.

In a statement issued at its annual meeting, the FSB said financial markets have improved in recent months, but that medium-term risks remain due to weak growth prospects and high levels of sovereign debt in many countries. Accommodative monetary policy by...

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