On 20 March 2020, the Financial Stability Board (FSB) issued a press release stating that it is actively cooperating with its members to maintain financial stability during market stress related to the COVID-19 pandemic.

The FSB explains that the global financial system is today in a better position to withstand shocks as a result of the reforms introduced following the 2008 financial crisis. The FSB encourages authorities and financial institutions to make use of the flexibility within existing international standards to provide continued access to funding for market participants and for businesses and households facing temporary difficulties from COVID-19, and to ensure that capital and liquidity resources in the financial system are available where they are needed. The FSB adds that many of its members have already taken action to release available capital and liquidity buffers, in addition to actions to support market functioning and accommodate business continuity plans.