Friday, April 14, 2017

FSB Launches Holistic Look at Regulatory Reforms

With the main elements of the G20’s core financial reforms underway, the Financial Stability (FSB) has proposed a framework to assess the effects of the reforms. In an April 11, 2017 consultation paper, the FSB proposes a structured framework specifying the processes and appropriate analytical approaches for the evaluation of the social benefits and cost of reform measure as well as identifying unintended adverse consequences. The paper considers the framework's:

 

  • scope, 
  • prioritization of evaluations, 
  • processes for measuring benefits and costs of the reforms, 
  • how to map objectives to intended outcomes, and 
  • the evaluation approaches and tools that could be used. 

 

According to the FSB, the framework is a data-driven effort being developed in close collaboration with the standard-setting bodies, like the Basel Committee and IOSCO, and other stakeholders. The consultation seeks feedback on a range of issues ranging from how to identify and measure unintended consequences to prioritization of evaluation topics and addressing data privacy issues.  

 

Comments and responses to the questions set out in the consultation are due by May 11,  2017. 

 

Following the public consultation, the framework will be published before the G20 Leaders’ Summit in July. The FSB anticipates that application of the framework will span several years after the final framework is approved. 

 

The full text of the April 11, 2017 consultation is available via http://www.fsb.org/wp-content/uploads/Framework-for-the-post-implementation-evaluation-of-the-G20-financial-regulatory-reforms.pdf

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