More satisfactory reporting of over the counter derivatives is underway but the arrangements are nowhere near complete.The Thematic Peer Review of OTC Derivatives Trade Reporting from the Financial Stability Board provides a cautious survey of one of the post-crisis reform measures.The FBS said that "in 11 FSB member jurisdictions (counting individual EU member states) reporting obligations are in place covering products in all five asset classes."It continued: "These jurisdictions are: Argentina, Australia, Brazil, Canada, the six participating EU member states, and the US. "In addition, Japan, Korea and Mexico have reporting obligations in place covering products in four of the five asset classes."In eight other jurisdictions, some reporting is in place, while in two jurisdictions no reporting is yet in place. "In the two jurisdictions that have yet to implement, they plan to have started reporting by the end of 2016. "Three of the eight jurisdictions with partial reporting already in place plan to expand reporting requirements by the end of 2016. "The jurisdictions with the largest OTC derivatives markets subject all transactions to reporting obligations," the FSB said.However, "some jurisdictions are phasing in these requirements or are limiting requirements only to banks, other large financial institutions and non-financial corporations with large derivatives positions."The FSB said "a number of jurisdictions report that the requirements in place cover over 90 per cent of the OTC derivatives trading taking place in their jurisdictions. "However around a third of jurisdictions have some exemptions in place."