At the Pittsburgh Summit, the G20 Leaders welcomed the efforts of the Financial Stability Board (FSB) to coordinate and monitor progress in strengthening financial regulation, stressing that "the FSB's ongoing efforts to monitor progress will be essential to the full and consistent implementation of needed reforms". This progress report describes the measures that have been taken and other progress made since the Pittsburgh Summit to implement the recommendations made by the G20 and the FSB for strengthening financial stability. As requested by Leaders at Pittsburgh, the FSB will continue monitoring the implementation efforts both at international and regional levels and report on progress to the G20 Finance Ministers and Central Bank Governors in advance of the next Leaders Summit in June 2010.