General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
November 28, 2018

FSB published its fourth annual report on the implementation and effects of the G20 financial regulatory reforms. Also published were the latest annual survey responses by the member jurisdictions on the implementation of other areas of reform, along with the summary tables and jurisdiction profiles on implementation progress. The report includes a dashboard that summarizes the status of implementation for priority reform areas across FSB jurisdictions.

The annual report highlights progress made in the reform agenda, as FSB pivots toward implementation and rigorous evaluation. Looking ahead, the report highlights some challenges in promoting a financial system that supports the G20 objective of strong, sustainable, and balanced growth, while preserving open and integrated markets and adapting to the rapid technological change.  The report covers the following key issues:

  • The substantial progress that has been made in implementing the key post-crisis financial reforms
  • Contribution of the reforms to the core of the financial system becoming more resilient to economic and financial shocks
  • Work of FSB to evaluate whether reforms are working as intended
  • The benefits of cooperation between jurisdictions in the aftermath of the crisis

The report also includes key findings from the recently concluded FSB evaluations on the effects of G20 financial reforms on incentives to centrally clear over-the-counter (OTC) derivatives and infrastructure finance. The report, which will be delivered to the G20 Summit in Buenos Aires, calls for the support of G20 Leaders in implementing the agreed reforms, and reinforcing global regulatory cooperation. The report notes that regulatory and supervisory bodies should lead by example in promoting the timely, full, and consistent implementation of remaining reforms to Basel III, resolution regimes, OTC derivatives, and non-bank financial intermediation. This will support a level playing field and avoid regulatory arbitrage.

Frameworks for cross-border cooperation between authorities should be enhanced to build trust, allow for the sharing of information, and to preserve an open and integrated global financial system. The report also mentions that authorities should evaluate whether the reforms are achieving their intended outcomes, identify any material unintended consequences, and address these without compromising on the objectives of those reforms. Financial stability authorities should continue to contribute to the FSB’s monitoring of emerging risks and stand ready to act if such risks materialize.


Related Links

Keywords: International, Banking, Insurance, Securities, Annual Report, G20, Basel III, OTC Derivatives, Regulatory Reforms, FSB

Related Articles

EBA Publishes Reports Monitoring the Implementation of Basel III in EU

EBA published two reports measuring the impact of implementing the final Basel III reforms and monitoring the implementation of liquidity measures in EU.

March 20, 2019 WebPage Regulatory News

BCBS Publishes Results of Survey on Proportionality in Bank Regulation

BCBS published a report presenting the results of a survey conducted on proportionality practices in bank regulation and supervision.

March 19, 2019 WebPage Regulatory News

US Agencies Adopt Interim Rule to Facilitate Transfers of Legacy Swaps

US Agencies (FCA, FDIC, FED, FHFA, and OCC) are adopting and inviting comments on an interim final rule.

March 19, 2019 WebPage Regulatory News

EIOPA Requests Data on LTG Measures from Insurers Under Solvency II

EIOPA has requested the European Economic Area insurance undertakings, which are subject to Solvency II, to provide information on the long-term guarantee (LTG) measures.

March 18, 2019 WebPage Regulatory News

PRA Proposes Reporting Amendments to Pillar 2 Liquidity Framework

PRA proposed (CP6/19) regulatory reporting amendments and clarifications to the Pillar 2 liquidity framework for banks in UK.

March 18, 2019 WebPage Regulatory News

EBA Single Rulebook Q&A: Third Update for March 2019

EBA published answers to seven questions under the Single Rulebook question and answer (Q&A) updates for this week.

March 15, 2019 WebPage Regulatory News

OCC Updates Recovery Planning Booklet of the Comptroller's Handbook

OCC updated the Recovery Planning booklet of the Comptroller’s Handbook.

March 15, 2019 WebPage Regulatory News

CFTC and MAS Announce Mutual Recognition of Derivatives Trading Venues

CFTC and MAS announced the mutual recognition of certain derivatives trading venues in the U.S. and Singapore.

March 15, 2019 WebPage Regulatory News

EBA Publishes Report on Convergence of Supervisory Practices Across EU

EBA published annual report on the convergence of supervisory practices in EU.

March 14, 2019 WebPage Regulatory News

CPMI-IOSCO Publish Update to Level 1 Assessment of PFMI Implementation

CPMI and IOSCO jointly updated the Level 1 Assessment Online Tracker on monitoring of the implementation of the Principles for financial market infrastructures (PFMI).

March 14, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2763