A consultation paper on incentives to centrally clear OTC derivatives has been jointly published by the Financial Stability Board, the International Organization of Securities Commissions, the Basel Committee on Banking Supervision and the Committee on Payments and Market Infrastructures. The paper is part of the FSB's post-implementation evaluation of the effects of the G20 financial regulatory reforms. The consultation paper sets out the results of an evaluation of the reforms that have been implemented to incentivize central clearing of OTC derivatives, including mandatory clearing requirements, capital, liquidity and margin requirements, as well as the reforms to CCP resilience, recovery and resolution. The evaluation found that:
Feedback to the consultation paper is invited until September 7, 2018. The final report, which will be published in November 2018, is intended to assist jurisdictions in determining whether any policy changes are necessary to their implementation of the G20 reforms for the OTC derivatives markets, taking into account the objectives of the G20 reforms.
View the consultation paper.