Securities Financing Technology News | G20 Data Gaps Initiative Releases Latest Progress Report

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The Financial Stability Board (FSB) and the International Monetary Fund (IMF) have released their sixth joint progress report for the G20 Data Gaps Initiative (DGI-2).

This provides an update on the implementation of recommendations made by the IMF and the FSB Secretariat to address data gaps identified during the 2007-2008 global financial crisis.

This is the last year of the second phase of the DGI project.

The report, G20 data gap initiative: countdown to December 2021, concludes that significant progress has been made in addressing data gaps during phases 1 and 2 of the project.

However, the pandemic has affected work on the DGI-2 program and it is likely that some recommendations will not be implemented by the end of 2021 as planned. These include data on securities financing transactions, data on institutional sector accounts, data on government debt and transactions, and commercial property price indexes.

The report provides little detail on the SFT data gaps and other hot spots it identifies.

It also does not comment on how the lack of SFT data has been affected by the implementation of the Securities Financing Transactions Regulation (SFTR) and other key policy initiatives designed to improve the quality of securities financing transactions. SFT data, reporting standards and monitoring.

The participating economies continue to work towards the adoption of the DGI-2 recommendations, building on the cross-border collaboration between policy makers and their ability to exert peer pressure to ensure the implementation of the policy recommendations.

With the completion of DGI-2, a new DGI is expected to focus on four main statistical and data priorities: FinTech data and financial inclusion; climate change; access to private sources of administrative data; and information on household distribution.

The FSB and IMF will work with participating economies to develop a detailed work plan for the next phase of the data gap initiative in the coming months.

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