FSB agrees to global aggregation of trade repository data

The Financial Stability Board (FSB) met on 24 June to discuss “vulnerabilities
affecting the global financial system and progress in authorities’ work to
strengthen global financial regulation.” The progress in the implementation of reforms to OTC derivatives markets was also discussed.  It was agreed that global aggregation of trade repository data is essential to enable comprehensive monitoring of risks to financial stability. A feasibility study has been launched into the options for aggregating information from trade repositories to share this amongst authorities. The results will be published in the first half of 2014.   

The FSB also welcomed progress on the development of international standards for margining requirements for non-centrally cleared derivatives trades and capital requirements related to exposures to central counterparties by BCBS and IOSCO.

 Related Link:

http://www.financialstabilityboard.org/press/pr_130625.pdf