One particular piece of the picture that has absorbed a lot of our attention at the Reserve Bank has been the work on financial market infrastructure, particularly in relation to OTC  1  For a more detailed treatment of the issues discussed in this speech, readers are referred to the Council of Financial Regulators Discussion Paper, Central Clearing of OTC Derivatives in Australia, June 2011 http://www.rba.gov.au/publications/consultations/201106-otc-derivatives/pdf/201106-otc-derivatives.pdf.
BIS central bankers’ speeches  1  derivatives clearing. I know this is very relevant to ISDA members here today, and it’s on this topic that I want to focus my main remarks. At the Pittsburgh Summit in September 2009, G20 leaders agreed, among other things, to a common commitment to central clearing in key derivatives markets.