Countries are interpreting and implementing international standards on pay practices at financial institutions in different ways, according to a new report from the Financial Stability Board released ahead of next week’s summit of G20 leaders in Mexico.

G20 leaders endorsed principles on sound compensation practices in the financial industry that were drawn up by the FSB's predecessor body, the Financial Stability Forum, in 2009. Since then the FSB, which was created in April that year, has published two reviews of industry-wide progress in meeting its standards.