This consultation paper sets out the main elements of a Proposed Framework for Post-Implementation Evaluation of the Effects of the G20 Financial Regulatory Reforms. The framework will guide analyses of whether the G20 core financial reforms are achieving their intended outcomes, and help to identify any material unintended consequences that may have to be addressed, without compromising on the objectives of the reforms.
With the main elements of the reforms agreed and implementation of many core reforms underway, initial analysis of the effects of these reforms is becoming possible. In order to enhance the analysis of the effects of reforms, the FSB decided in 2016 to develop a structured framework for the evaluation of these effects.
The consultation paper sets out the main elements of a framework that will specify processes and appropriate analytical approaches for the evaluation of the effects of reforms. The paper considers the framework’s scope, prioritisation of evaluations, processes for measuring benefits and costs of the reforms, how to map objectives to intended outcomes, and the evaluation approaches and tools that could be used. The framework is being developed in close collaboration with the standard-setting bodies and other stakeholders.
The analysis will be data-driven and will consider a wide range of interests. Evaluations will focus on assessing the social benefits and costs, and consider private benefits and costs that accrue to particular market participants or end-users where these help assess social benefits and costs.
The FSB welcomes comments and responses to the questions set out in the consultation by 11 May 2017. Responses should be sent to [email protected] with “Framework consultation response” in the e-mail subject line. Responses will be published on the FSB website unless respondents expressly request otherwise.
Following the public consultation, the framework will be published before the G20 Leaders’ Summit in July. Application of the framework will begin over the coming years.