Significant progress on global financial stability

Senior regulators, who met on Wednesday 1 March, said that progress had been made in improving the stability of the global financial system, but noted that much more needed to be done.

A one-day meeting was held in New York to assess progress made in improving financial system "plumbing" since a report last July by a group of bankers flagged up a number of areas that needed improvement.

Gerald Corrigan, a former president of the New York Fed, who convened Wednesday's meeting, said progress had

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