The Financial Stability Board (FSB) has recently concluded a two day meeting in Cape Town, South Africa. During this meeting the FSB:
- reviewed the progress being made on the implementation of the post- financial crisis reforms;
- discussed progress on the development of a consistent comprehensive framework for evaluating the implementation effects of the post-financial crisis reforms;
- made progress on certain deliverables for the G20 Leaders’ summit in July, including work on financial technology, financial sector misconduct and climate-related financial disclosures; and
- held an Emerging Market and Developing Economies forum to discuss implementation and effects of reforms in these markets.
On financial sector misconduct the FSB noted that a draft consultation paper on the use of compensation tools will be published in advance of the G20 Leaders’ summit. The consultation paper will be issued as supplementary guidance to the FSB’s Principles and Standards on Sound Compensation Practices.
When reviewing the post-financial crisis reforms the FSB discussed an interim report that seeks to quantify interdependencies between central counterparties, major clearing members and financial service providers and the resulting systemic implications. This analysis will inform the FSB’s work on central counterparty resilience, recovery planning and resolvability.
View FSB assesses implementation progress and effects of post-crisis financial services reforms, 28 February 2017
