The Financial Stability Board (FSB) has published a monitoring note to provide an update of developments since a joint study conducted in June 2012 by the FSB, IMF and World Bank into the unintended consequences of regulatory reforms for emerging market and developing economies (EMDEs). The monitoring note addresses the Basel III capital and liquidity framework, over-the-counter (OTC) derivatives market reforms, and policy measures for global systematically important financial institutions (G-SIFIs). The note also describes some concerns identified by EMDEs stemming from the cross-border impact of banking structural reform initiatives in some advanced economies.