From the reflection on the financial crisis in 2008, G20 Leaders, at the 2009 Pittsburgh Summit, agreed that over-the-counter (hereinafter referred to as OTC) derivatives trade (transactions) contracts should be reported to trade repositories (hereinafter referred to as TRs). Following this commitment, data reporting and aggregation requirements for OTC derivatives were implemented in most FSB member jurisdictions to reinforce monitoring and supervision systems in the usual period and ensure a prompt and optimal response to macro-prudential risks
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