G20
FSB report highlights countries behind on OTC reforms
Progress report shows many countries failing to implement OTC derivatives market reforms; calls for 'aggressive push' to meet deadline
FSB reports ‘solid’ progress on financial regulatory reforms
FSB chairman Mark Carney gives update to G-20 finance ministers and central bank governors; new reports cover D-Sibs and the sensitivities of harnessing the power of shadow banking
IMF resources set to rise by $430 billion
IMF to receive up to $430 billion in additional funding; fund stresses resources are “not earmarked” for any region in particular
ECB reveals dip in G-20 GDP growth
European Central Bank announces G-20 GDP growth slowed to 0.7% in the fourth quarter of 2011
Lagarde stresses importance of firewalls
Managing director of IMF says she is “encouraged” by G-20 commitment to strengthening firewalls to limit spread of economic damage
Canada’s Murray identifies shift in global policy effort
Bank of Canada deputy governor John Murray highlights prospective benefits from co-ordinated policy response to current economic problems
Bank of Canada paper urges reform to international monetary system
Bank of Canada study says reforms to international monetary system should focus on flexible exchange rate regimes and coherent macroeconomic policy
The G-20 and the dollar: what’s new?
Reform of the international monetary system is overdue but the pace of change is too slow, says Ousmène Jacques Mandeng.
Eurozone leaders hold emergency meeting in Cannes
Greek prime minister George Papandreou is summoned to Cannes for crisis talks ahead of G-20 meetings after receiving the backing of his cabinet to hold a referendum on the eurozone bailout
BIS reviews development of macroprudential toolkits
Bank for International Settlements progress report to G-20 says macroprudential framework needs appropriate tools to limit systemic risk; provides broad definition of macroprudential
FSB sets out framework for monitoring implementation of financial reforms
Financial Stability Board announces co-ordination framework for implementation monitoring of G20/FSB financial reforms; priority areas set for extra scrutiny
RBA’s Edey assesses future global CCP model
Reserve Bank of Australia assistant governor Malcolm Edey warns abstract model of central clearing pictured by G-20 leaders may not be realised in practice
G-20 endorses final G-Sifi rules
Finance ministers and central bankers offer support to G-Sifi rules; want to see framework expanded to all banks deemed too big to fail regardless of global reach
FSA and SEC continue strategic dialogue meetings
US and UK lead the way on cooperation and idea-sharing as regulatory reforms kick in; collaboration on key changes crucial as world struggles to rebuild after latest economic shocks
FSB warns members not to misinterpret G-20 commitments
The FSB warns that some regulations appear to be contrary to the spirit of the OTC derivatives reforms agreed by G-20 members – a statement some believe was prompted by a disagreement over the scope of European derivatives regulation
Financial Stability Board finalises Sifi measures
FSB settles on plan to tackle the 'too big to fail' problems posed by systemically important financial institutions; measures will be sent to G-20 summit in November
MAS’s Menon dismisses Asian regulatory arbitrage opportunity
Monetary Authority of Singapore managing director Ravi Menon says suggestions that central banks in Asia and Singapore will implement less stringent over-the-counter derivatives rules are untrue
G-20 commits to ‘strong and co-ordinated’ response to challenges
G-20 answers calls for united action; countries commit to implementing credible fiscal consolidation plans, and ensuring strong, sustainable and balanced growth
Canada’s Macklem encourages G-20 action to avoid another ‘calamity’
Bank of Canada senior deputy governor, Tiff Macklem, urges G-20 to pick up the pace of reform
Basel targets 28 banks with GSIB surcharge
Basel Committee says 28 banks will be required to hold additional loss-absorbency capital under proposed methodology for identifying global systemically important banks
Progress made on information gap project
IMF and FSB report 'considerable' progress on implementation of information gap recommendations
Draghi calls for EU law to govern bail-in powers
Financial Stability Board chairman Mario Draghi says measures to enable bondholders to receive haircuts before the collapse of a financial institution should be placed in European Union legislation
G-20 agrees guidelines to identify imbalances
G-20 representatives move forward with plans to establish guidelines to measure economic imbalances