A system and method are provided for frequency domain peak power reduction on a plurality of orthogonal frequency divisional multiplexing (OFDM) signals in a communications system, wherein frequency domain processing of at least one OFDM signal carrier is iteratively performed to reduce peak power transmissions. OFDM signal carriers can include both in-band sub-carrier signals, and guard-band sub-carrier signals. Each iteration of peak power reduction takes as an input the frequency domain representation of the signal from the previous iteration that has been altered with respect to an error signal also represented in the frequency domain, determines an error signal (in the frequency domain), and subtracts this from the input to produce a further peak power reduced frequency domain signal. If there are no peaks above the configured peak power reduction threshold, then the signal passes through the FPPR iterations with no change.