On November 13, the Financial Stability Board published a consultation report that sets forth proposed standards and processes for global securities financing and data collection and aggregation. Previously, the FSB recommended that national/regional authorities collect appropriate data on securities financing markets to help the FSB better assess ongoing financial stability. These latest proposals are intended to provide guidance on what kinds of data on repo, securities lending, and margin lending should be collected, how they should be collected, and in what format. Mark Carney, Chairman of the FSB, characterized the proposed standards as "an important step to ensure that authorities fully understand trends and risks in one of the core funding markets for wide range of market participants. The global data collection and aggregation based on the FSB standards and processes will help transform securities financing markets into more transparent and resilient sources of financing that would better serve the needs of the economy."