FSB reports on OTC derivatives reform progress: FSB has published the seventh semi-annual progress report on implementation of OTC derivatives market reforms. Jurisdictions' implementation efforts and agreement over remaining international standards have reached their final stages and now the focus turns to dealing with cross-border implementation issues: overlap, duplication, inconsistencies, conflicts or gaps in regulations. (Source: Seventh Progress Report on Implementation)

FSB reports on risk culture and enhanced supervision: FSB has published the final version of its framework for assessing risk culture at supervised institutions and a progress report on enhanced supervision. The risk culture framework seeks to guide institutions in articulating their risk culture and, based on this, to help supervisors intervene early where necessary. The enhanced supervision report describes improvements in supervisory engagement with institutions and the risk mitigation achieved with recovery and resolution plans. (Source: FSB Reports on Risk Culture and Enhanced Supervision)