The FSF announced a new process to promote further improvements in OFCs. The process is intended to continue to ensure that OFCs meet international standards as financial markets evolve and to address remaining problems in several OFCs, notably in the areas of effective cross-border cooperation, information exchange and adequacy of supervisory resources.  


With the first phase of the IMF’s assessment program complete, the FSF announced that the FSF’s 2000 list of 42 OFCs which helped the IMF to set priorities for its assessment program has served its purpose and is no longer operative.