Structural Banking Reforms: Cross-border Consistencies and Global Financial Stability Implications

Abstract

This report responds to a request from the G20 in 2013 for the FSB, working with the IMF and OECD, to report on potential cross-border financial stability implications related to national structural banking reforms that have recently been implemented or proposed. The main reforms discussed in the report are those adopted in the US (Volcker Rule, Swaps Push-out Rule, Foreign Banking Organisation requirements) and the UK (ring-fencing requirements following the Vickers report, and treatment of non-EEA branches), reforms adopted in France, Germany and Switzerland, and reforms proposed by the European Commission (building on the Liikanen report). The report also sets out a range of concerns that have been raised by other jurisdictions regarding these reforms. The FSB will monitor developments related to these reforms in the period ahead, and has undertaken to report again to the G20 in 2016.