FSB reports on impact of structural reforms: FSB has published a report to the G-20 on the cross-border consistencies and global financial stability implications of regulatory reforms to the structure of banks. The report found no instance where structural reforms have impacted any jurisdiction other than the jurisdiction of implementation, but notes that it is still too early to reach conclusions. It also acknowledges that financial fragmentation will occur and that it may even be an intended consequence of reforms aimed at reducing bank interconnectedness. FSB concludes that further monitoring is needed, in particular as regards cross-border resolution strategies and the impact of reforms on the liquidity of sovereign and corporate bond markets. (Source: FSB Report on Impact of Structural Reforms)