On 14 October 2026, the Financial Stability Board (FSB) issued its 2026 report to the G20 covering its implementation monitoring work.
Background
In 2025, the G20 Presidency asked the FSB to review how it promotes and monitors implementation of G20 financial sector reforms. To undertake this work, the FSB established an implementation monitoring review (IMR) working group led by an external chair and supported by a small team of senior members of the FSB. As a first step for the IMR, the FSB issued a report in 2025 providing an assessment of the progress of implementation of main G20 financial reforms. At the request of the 2026 G20 Presidency, the IMR has prepared this latest report to evaluate one possible contribution: how implementation outcomes may be affected, positively or negatively, by how the FSB develops, drafts, and presents its policy recommendations.
Report
The report provides background about the FSB’s processes to develop policy recommendations. It then discusses the IMR’s findings from its analysis of how implementation outcomes may be affected by the way the FSB develops, drafts, and presents its policy recommendations. It also sets out and explains the recommendations to the FSB for improving these processes.
Next steps
The IMR work will now turn to considering how the FSB’s implementation monitoring could be improved to promote better implementation outcomes. The report, which identifies some of the explanations for suboptimal implementation, provides important considerations to inform that report, which is expected in the first half of 2027.