Making Derivatives Markets Safer – Implementation

The FSB has designated over-the-counter (OTC) derivatives as one of the priority areas for implementation monitoring. Regular monitoring and detailed reporting in this area is carried out by the FSB Standing on Standards Implementation.

The FSB reports on the status of implementation of OTC derivatives market reforms in its Annual Report.

Status of implementation

View status of implementation of reforms in priority areas by FSB jurisdictions as reported in the latest FSB Annual Report to G20 (as of October 2023).


FSB Peer Reviews

Peer Review of Indonesia

Peer review on implementation of over-the-counter derivatives market reforms in Indonesia.

Peer Review of Mexico

Peer review on implementation of the reforms to OTC derivatives markets in Mexico.

Thematic Review on Implementation of the Legal Entity Identifier

Peer review examines implementation of the LEI to support authorities and market participants in identifying and managing financial risks.

Peer Review of Hong Kong

Peer review examines Hong Kong’s implementation of OTC derivative market reforms and the framework for resolution of financial institutions.

Peer Review of Brazil

Peer review examines two topics relevant for financial stability in Brazil: trade reporting and its use in systemic risk monitoring, and the regulation and supervision of investment funds.

Thematic Review of OTC Derivatives Trade Reporting

FSB peer review on trade reporting of over-the-counter derivatives shows implementation progress but highlights issues on legal barriers and data quality.

Peer Review of the United Kingdom

This report examines topics that are relevant for financial stability and important for the UK: macro-prudential policy framework; micro-prudential supervision; and supervision and oversight of CCPs.

Peer Review of the United States

This report examines topics that are relevant for financial stability and important for the US: systemic risk oversight arrangements; supervision and oversight of FMIs; and insurance supervision.

Peer Review of South Africa

This report examines important financial reform topics in South Africa that are relevant for the broader FSB membership: interagency coordination and regulatory structure, and OTC derivatives markets regulation.
Progress Reports

OTC Derivatives Market Reforms: Implementation progress in 2022

Annual progress report on the implementation of over-the-counter derivatives market reforms that followed the 2008 crisis.

OTC Derivatives Market Reforms: Implementation progress in 2021

Annual progress report on the implementation of over-the-counter derivatives market reforms that followed the 2008 crisis.

OTC Derivatives Market Reforms: 2020 Note on Implementation Progress

Progress on implementation of agreed OTC derivatives markets reforms

OTC Derivatives Market Reforms: 2019 Progress Report on Implementation

Annual report on implementation of the agreed reforms to OTC derivatives markets.

Trade reporting legal barriers: Follow-up of 2015 peer review recommendations

Most FSB jurisdictions have removed or addressed legal barriers to trade reporting of OTC derivatives.

OTC Derivatives Market Reforms: Thirteenth Progress Report on Implementation

Progress report on the implementation of the G20 reforms to make derivatives markets safer.

Incentives to centrally clear over-the-counter (OTC) derivatives

A post-implementation evaluation of the effects of the G20 financial regulatory reforms.

FSB members’ plans to address legal barriers to reporting and accessing OTC derivatives trade data: Progress report

Progress report on actions by FSB member jurisdictions to address barriers to accessing trade reporting data.

OTC Derivatives Market Reforms: Twelfth Progress Report on Implementation

Progress report on implementation of reforms to OTC derivatives markets.

Report on FSB Members’ Plans to Address Legal Barriers to Reporting and Accessing OTC Derivatives Transaction Data

Report on plans by FSB members to address trade reporting legal barriers.

OTC Derivatives Market Reforms: Eleventh Progress Report on Implementation

Progress report on the implementation of the G20 OTC derivatives market reforms.

OTC Derivatives Market Reforms: Tenth Progress Report on Implementation

Tenth Progress Report on Implementation: FSB report provides an update on the implementation of the agreed G20 reforms to over-the-counter derivatives market.

Ninth Progress Report on Implementation of OTC Derivatives Market Reforms

This ninth progress report on OTC derivatives market reform implementation describes progress as at end-June 2015.

Eighth Progress Report on Implementation of OTC Derivatives Market Reforms

This report is the eighth progress report on implementation of OTC derivatives market reforms.

Seventh Progress Report on Implementation of OTC Derivatives Market Reforms

This report is the seventh progress report on implementation of OTC derivatives market reforms.

Sixth Progress Report on Implementation of OTC Derivatives Market Reforms

This is the FSB’s sixth progress report on implementation of OTC derivatives market reforms.

Fifth Progress Report on Implementation of OTC Derivatives Market Reforms

This is the FSB’s fifth progress report on implementation of OTC derivatives market reforms.

Fourth Progress Report on Implementation of OTC Derivatives Market Reforms

This is the FSB’s fourth progress report on implementation of OTC derivatives market reforms.

Third Progress Report on Implementation of OTC Derivatives Market Reforms

This is the FSB’s third progress report on implementation of OTC derivatives market reforms.

Second Progress Report on Implementation of OTC Derivatives Market Reforms

This is the FSB’s second progress report on implementation of OTC derivatives market reforms.

First Progress Report on Implementation of OTC Derivatives Market Reforms

This is the FSB’s first progress report on implementation of OTC derivatives market reforms.