Work of the FSBMonitoring Implementation of ReformsMonitoring of Other Areas

Monitoring of Other Areas

The monitoring of implementation in other (non-priority) areas of FSB/G20 reform is undertaken by the FSB. Until 2021 the principal source of information for this monitoring was responses to an annual survey of the FSB’s Implementation Monitoring Network (IMN). Since 2022, updates are provided only by those jurisdictions that have not yet fully implemented reforms in a particular area. The FSB has not undertaken an evaluation of survey responses to verify the status or assess the effectiveness of implementation. In a number of cases, the complexity of the reforms and the summarised nature of the responses does not allow for straightforward comparisons across jurisdictions or reform areas. In particular, reforms whose implementation status in a particular area is reported as complete should not be interpreted to mean that no further steps (e.g. to reflect new international policy developments or follow-up supervisory work) are needed or are underway in that area.

The areas of reform included in the latest version of the survey are:

  1. Hedge funds
  2. Securitisation
  3. Enhancing supervision
  4. Building and implementing macroprudential frameworks and tools
  5. Improving oversight of credit rating agencies
  6. Enhancing and aligning accounting standards
  7. Enhancing risk management
  8. Strengthening deposit insurance
  9. Safeguarding the integrity and efficiency of financial markets
  10. Enhancing financial consumer protection.

Previous versions of the survey also included the following areas: refining the regulatory perimeter (until 2015 – currently monitored as part of the non-bank financial intermediation reform area) and strengthening adherence to international financial standards (until 2012 – currently monitored as part of the leading by example webpage).

Responses submitted by FSB jurisdictions to the annual IMN survey can be viewed here: National/regional responses to IMN surveys.

Overview of the Reported Implementation Status

An overview of the reported implementation status by recommendation and jurisdiction from 2022 IMN survey is shown below.

Overview of the reported implementation status
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Additional information, based on the survey responses can be found below.

Reported implementation status by recommendation and jurisdiction from 2021.
No survey took place due to the FSB re-prioritisation of its 2020 work programme to focus on responding to the COVID-19 pandemic.
Note summarising implementation progress and recent developments by recommendation.
Chart showing reported progress in implementation of recommendations across jurisdictions by recommendation.
Note summarising implementation progress and recent developments by recommendation.
Chart showing reported progress in implementation of recommendations across jurisdictions by recommendation.
Note summarising implementation progress and recent developments by recommendation.
IOSCO report with additional information on progress for eight of these recommendations that pertain to securities markets.
Chart showing reported progress in implementation of recommendations across jurisdictions by recommendation.
Note summarising implementation progress and recent developments by recommendation.
IOSCO report with additional information on progress for eight of these recommendations that pertain to securities markets.
Chart showing reported progress in implementation of recommendations across jurisdictions by recommendation.
Chart showing reported progress in implementation of recommendations across jurisdictions by recommendation.
To enhance consistency and granularity of responses, the 2015 IMN Survey included a few additional questions for four recommendations that were reported to be at an advanced stage of implementation. Tables summarising jurisdictions’ responses in each of these reform areas can be accessed by clicking on the following links:
– Registration, appropriate disclosure and oversight of hedge funds
– Establishing supervisory colleges and conducting risk assessments
– Establishing regulatory framework for macro-prudential oversight
– Enhancing system-wide monitoring and the use of macro-prudential instruments

Query Tool

The query tool below enables users to obtain information on the status of national/regional implementation of G20/FSB recommendations covered by the IMN survey based on three filters: area of reform, jurisdiction and year. This information is based on self-reporting by FSB jurisdictions.

In 2019 and 2021, jurisdictions that previously reported implementation of a recommendation as completed were not required to update information about progress to date or next steps for that recommendation. Given the advanced implementation status of the reforms, several 2019 and 2021 survey responses are therefore unchanged from those of 2018.

G20/FSB Recommendations Query

Status overview

Related Information

Priority areas

Monitoring of Priority Areas

Monitoring implementation in priority reform areas is a key focus of the FSB’s work.