The Financial Stability Forum (FSF) is hosting its six-monthly plenary meeting today and tomorrow in New York. The Forum proposes to issue a press release on Thursday, covering the main items of its discussion.

The meeting is discussing the recent strains in the international financial system. Additionally, the FSF will review progress of work (a) to address the recommendations in its Highly Leverage Institutions Update report issued last May and (b) in its initiative to promote further improvements in offshore financial centres.

The Financial Stability Forum brings together senior representatives of national financial authorities (e.g. central banks, supervisory authorities and treasury departments), international financial institutions, international regulatory and supervisory groupings, committees of central bank experts and the European Central Bank. It is serviced by a small secretariat housed at the Bank for International Settlements in Basel, Switzerland.