At the most recent G-20 Summit in St. Petersburg this past September, the Leaders endorsed a set of recommendations to increase transparency, reduce moral hazard, and limit maturity and liquidity transformation.
Finally, on strengthening the resilience of core financial markets, more than half of the FSB’s member jurisdictions now have legislative frameworks in place to ensure that derivatives  2  BIS central bankers’ speeches  transactions are reported to trade repositories; that standardized over-the-counter (OTC) derivatives are cleared through central counterparties; and that non-centrally-cleared derivatives have higher capital and margin requirements.