On 18 July 2018, the Financial Stability Board (FSB) published a consultation report on the Evaluation of the effects of financial regulatory reforms on infrastructure finance. The consultation report presents the results of, and seeks comments on, the evaluation of the effects of financial regulatory reforms on infrastructure finance. The evaluation focuses on infrastructure finance provided by the financial sector in the form of corporate and project debt financing (loans and bonds), covering the types of financing that are most likely to be directly affected by financial regulation.

The consultation report concludes that the effect of the G20 financial reforms on infrastructure finance is of a second order relative to other factors, such as the macro-financial environment, government policy and institutional factors. In particular, for the reforms that have been largely implemented and are most relevant for this evaluation – namely, the initial Basel III capital and liquidity requirements and over-the-counter derivatives reforms – the analysis so far does not identify material negative effects on the provision and cost of infrastructure finance.

A final report will be published at around the time of the G20 summit in November 2018.