Seven FSF member countries and sixteen regional non-member countries attended the meeting, as well as officials from international and regional financial institutions. The press release issued after the meeting can be found here.

• Participants noted the current benign global financial conditions, which had fostered and reflected robust global growth, rising corporate profitability and financial innovation. At the same time, markets were seen to be characterised by a very low level of risk premia, especially in credit markets.
  
  
• Cross-border financial flows, rapid credit expansion and current and prospective membership in the European Union were seen as having provided additional impetus to market growth in Central and Eastern Europe.
  
  
• Participants discussed the rapid growth of private sector credit in the region, noting that in some countries a significant share of private borrowing is denominated in foreign currency. While this largely reflects robust domestic demand, low real interest rate, and a catching-up process with advanced economies, it also introduces potential risks. Participants discussed the effectiveness of policy measures that have been taken to mitigate these risks, including possible weaknesses in credit assessment and foreign exchange exposures by unhedged borrowers.
  
  
• Other topics discussed included issues raised by the increasingly prominent role played by cross-border financial groups; the prioritisation of financial system reforms; and progress in developing domestic capital markets.