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FSB Data Gaps Initiatives and OTC Derivative Reforms Monitor

The Financial Stability Board (FSB) has announced that it has developed a common data template for systemically important global financial institutions (G-SIBs) to improve data to support financial stability.  The FSB has harmonised the collection and pooling of improved consolidated data on bilateral counterparty credit exposures of G-SIBs as well as their consolidated aggregated exposures.  The data will be held centrally by an international data hub hosted by the Bank for International Settlements with reports on the data being shared with national supervisory authorities.

 Extensions to the project are being considered in stages to progressively expand and enhance the framework, potentially with improved data on bilateral funding dependencies (phase 2) and consolidated balance sheets (phase 3).  Following implementation national authorities will be responsible for maintaining the common data template and providing technical support and guidance to reporting firms.

 The FSB also published a letter to G20 Ministers and Central Bank Governors setting out its next steps and outlining the creation of a multi-year plan for monitoring the implementation of the OTC derivative reforms in line with the goals of improving transparency, mitigating systemic risk and protecting against market abuse.








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