FSB publishes reports on Fin reform and Reg factors

The Chairman of the Financial Stability Board (FSB) provided an update to G20 finance ministers on the priorities and work plans of the FSB.  This includes addressing issues around regulatory uncertainty - regulators are to report back on their progress in identifying conflicts of rules, duplication and gaps in respect of cross border transactions in April 2013.  The FSB will report to the next G20 summit on the findings of an impact assessment on the macroeconomic impact of the OTC derivative reforms and will issue consultation shortly about guidance to regulators on:·    

- access to trade repository data; and·   

- how it can be aggregated across trade repositories. 

The FSB also published a report on the regulatory factors affecting the availability of long-term finance, distinguishing between transitional and permanent effects.  The report primarily reviewed Basel III and OTC derivative market reforms and the regulations impacting institutional investors.  The FSB concluded that there was little tangible evidence to suggest that global financial regulatory reforms have significantly contributed to the current long-term financing concerns, although on-going monitoring is needed.

Releavent links:

http://www.financialstabilityboard.org/press/pr_130216.pdf

http://www.financialstabilityboard.org/publications/r_130216a.pdf