Assessing the effects of reforms
With the main elements of the post-crisis reforms agreed and implementation underway, more detailed analysis of the effects of those reforms is becoming possible. The FSB, in collaboration with the standard-setting bodies (SSBs), is conducting evaluations of the analysis of the effects of reforms, including whether the reforms are working together as intended.
Framework for post-implementation evaluation of the effects of reforms
The FSB, in close collaboration with the SSBs, and informed by work carried out by its members and other stakeholders, developed a framework for the post-implementation evaluation of the effects of the G20 financial regulatory reforms. The framework guides analyses of whether the G20 reforms are achieving their intended outcomes, and helps identify any material unintended consequences that may have to be addressed, without compromising on the objectives of the reforms. Applying such a framework informs structured policy discussions among the FSB and SSBs.
The focus of the framework is on evaluations of the effects of G20 financial regulatory reforms for which implementation is well underway or completed. The framework:
Clarifies relevant concepts and terms, with the aim of achieving a common understanding by FSB members and relevant stakeholders;
Outlines approaches, including evaluation tools, to address the methodological challenges inherent in policy evaluations; and
Lays out the process for operationalising evaluations.
The framework is a living document that will be enhanced as experience is gained with evaluations. The FSB also published a Technical Appendix and Frequently Asked Questions when the framework was published.