Three global standard setting bodies issued their final report on OTC derivatives reforms suggesting they have mostly met the G20 goals, but also concede some tweaks might be beneficial

The number of correspondent banking relationships involving some developing countries is continuing to decline says the FSB although its action plan to address the situation is now largely in place  

FSB completes cyber lexicon for regulators and financial institutions outlining around 50 core terms relating to cyber security and cyber resilience

The number of G-SIBs has fallen by one in the FSB’s latest classification with two leaving the list and one joining

According to the Bank of England’s latest stress tests, the UK’s seven largest lenders could withstand a downturn more severe than the one a decade ago or a disorderly Brexit and still be able to keep credit flowing to the economy

Basel Committee reports that Basel III implementation is progressing with banks being better capitalised, but is concerned that some measures are facing implementation delays in some jurisdictions

Such is the political opposition to the withdrawal agreement signed between the EU and UK that there is an increasing chance that the UK could leave on WTO terms

Calls for more refinement around ESMA stress testing regime for money market funds

The FSB said that most jurisdictions hosting too-big-to fail banks largely have resolution regimes in place for them, but is concerned that more work needs to be done on the resolvability of clearing houses and insurers

The appointment of the Federal Reserve’s Randal Quarles as FSB chair has created fears that this could either see the body undermined or lead to a loosening of global regulatory frameworks. In practice doing either would be difficult