The Financial Services Volunteer Corps ("FSVC") was established in 1990 by John C. Whitehead and the late Cyrus R. Vance at the behest of U.S. President George H. W. Bush. It is a not-for-profit organization, headquartered in New York City, whose purported mission is to build sound banking and financial systems in developing and transition countries seeking to develop market-oriented economies. Its business model is based on a private-public partnership, in which it receives grants from the U.S. State Department (primarily through the U.S. Agency for International Development and the Middle East Partnership Initiative) in order to provide "technical assistance" and "training" in countries transitioning towards a market economy. It engages "financial experts" from the United States and other developed countries to serve as short-term, volunteer consultants in transition countries that are trying to reform their financial systems. They typically provide advice to financial regulators such as central banks, finance ministries, securities commissions, deposit insurance agencies, pension fund supervisors, or to private institutions such as stock markets, commercial banks, brokers associations and insurance companies. More information...
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