One of the last missing pieces of the OECD’s BEPS project involves developing transfer pricing guidance on financial transactions. While the OECD had pushed back the publication several times, on 3 July 2018 they released a non-consensus discussion draft that sets out various approaches that may be appropriate for the topics covered, without giving explicit guidance. The public were invited to comment on the draft by 7 September 2018, while the report is to be finalised by April 2019. This article provides a brief summary of the draft.