Cross-border interconnections in the financial markets and other factors helped spread disruptions during the 2007-2009 financial crisis and increased systemic risk. In response to the crisis, the Group of Twenty (G20) positioned itself as the main international forum for reforming financial regulations. In 2008, the G20 leaders committed to implement a broad range of reforms designed to strengthen financial markets and regulatory regimes. In light of the G20's reform efforts and the potential implications of the reforms for the U.S., this report examined (1) the U.S. role in the international financial reform efforts; and (2) the implementation status of recent international financial reforms in the U.

S. relative to other countries and challenges that uneven implementation may present. Tables and figures. This is a print on demand report.