To facilitate the monitoring process, work is currently underway, as a matter of urgency, on an assessment methodology that will make it easier to objectively assess the level of implementation in individual countries.
This instrument is to be used by various bodies: a) countries will be able to perform a self-assessment in order to identify any gaps in implementation; b) the IMF/the World Bank will use this methodology when carrying out their FSAP assessments; c) the FSB is already planning a first review for 2012 as part of its peer review process, and d) the FSB Peer Review Council, which has not yet been set up, will apply this instrument to global systemically important financial institutions.