Question- Which organization has presented the status report, on progress in financial regulatory reforms ahead of the G-20 conference?
(a) IMF
(b) World Bank
(c) Financial Stability Board
(d) Asian Development Board
Ans: (c)
Related facts:-
- On July 3, 2017, an international organization for the Global Financial System, the Financial Stability Board (FSB) submitted it’s third annual report.
- In this report, India has been listed among the countries which are in compliance with the implementation of Priority Area Reforms or on large scale compliance.
- FSB reviewed the progress of implementing G-20 reforms by three EMDE (emerging market and developing economy) members, Argentina, Brazil and India, and recommended to remove the shortcomings identified.
- The report listed India as a ‘compliant’ jurisdiction with regard to Basel III reforms in risk-based capital and as ‘largely compliant’ on liquidity coverage ratio.
- In terms of compensation related reforms, India is one of such jurisdictions where all FSB principles and standards have been implemented barring a few ( three or less).
- FSB also released a framework for evaluation after implementation of the effect of G-20 financial regulatory reforms.
Related Links:-
http://www.fsb.org/2017/07/fsb-reports-to-g20-leaders-on-progress-in-financial-regulatory-reforms/
http://www.fsb.org/wp-content/uploads/P030717-2.pdf
http://www.business-standard.com/article/economy-policy/g20-summit-india-scores-well-in-fsb-report-found-basel-iii-compliant-117070400252_1.html