The Implementation and effects of the G20 financial regulatory reforms describes progress by FSB jurisdictions in implementing the agreed reforms; presents early analysis on the overall effects of those reforms; and highlights areas that merit senior-level attention. The report concludes that implementation progress has been steady but uneven and that the most tangible effect of the reforms has been to make the banking sector more resilient. This improved resilience has been achieved while maintaining the overall provision of credit to the real economy. The report calls on G20 Leaders’ support to overcome implementation challenges involving legal powers and resources. It also includes a ‘dashboard’ that summarises in a colour-coded table the status of implementation across FSB jurisdictions for priority reform areas, and identifies areas that merit ongoing monitoring and further analysis in terms of the potential effects of reforms.