The Financial Stability Board has issued its Fifth Progress Report on the Implementation of OTC Derivatives Market Reforms.

This progress report follows the publication in October 2010 of "21 recommendations for implementing the G20 commitments" and sets out progress made by standard-setting bodies, national and regional authorities and market participants towards meeting the commitments made by G20 Leaders that all standardised OTC derivative contracts be traded on exchanges or electronic trading platforms, where appropriate, and cleared through central counterparties (CCPs); that OTC derivative contracts be reported to trade repositories; and that non-centrally cleared contracts be subject to higher capital requirements.