G20
Asia Risk Congress 2010: G-20 poised to tackle shadow banking and commodity derivatives
The G-20 is not going to sit still after its historic endorsement of Basel III. New targets include the shadow banking system and commodity derivatives, according to a senior Japanese government official.
G20 calls for bigger, better FSB to carry reform agenda
G20 leaders at Seoul summit identify areas in which further progress in needed, calling on Financial Stability Board to take the lead and drive reform; ask FSB to report on what extra resources it needs
FSB plans on Sifis win G20 approval
G20 leaders welcome reform packages to date, including fresh FSB proposal to tackle moral hazard posed by systemically important banks
Leaders applaud IMF reforms, boosted safety net
Fund's boosted flexible credit line, new precautionary credit line praised by G20 leaders of the IMF
Focus on trade rather than stimulus: business leaders to G20
International Chamber of Commerce honorary chair Victor Fung calls on G20 to focus on boosting international trade rather than monetary stimulus to raise growth; currency tensions expected to feature heavily at Seoul Summit
Homogeneous regulations could contribute to risk, says former Brazil central bank chief
Arminio Fraga warns about the use of globally standardised methodologies for regulatory capital, as well as the dangers of multiple central counterparties
G20 agrees historic IMF power shift
G20 governors and finance ministers agree to boost quotas, voting power of leading emerging market economies; Fund managing director Dominique Strauss-Kahn heralds end of legitimacy debate
IMF’s Portugal identifies key information gaps
IMF deputy managing director Murilo Portugal lays out areas for improvement in filling information gaps
King demands collaboration
Bank of England governor Mervyn King says countries must reach collective solution over global imbalances or risk crippling the global economy through protectionist policies
Basel Committee sketches regulatory action plan
Basel Committee on Banking Supervision identifies eight issues it is working on as Basel III reform package heads into political sphere
US Treasury stalls on decision to name China ‘manipulator’
US Treasury says it will delay publication of report on exchange rates until after G20 gathering in Seoul
IASB appoints Hoogervorst as new chairman
Hans Hoogervorst, Dutch former cabinet minister, has been appointed chair of the International Accounting Standards Board
IIF calls for accord to fix imbalances
Institute for International Finance (IIF) says major economies must broker agreements on critical macroeconomic and exchange-rate issues
IMF’s Lipsky: G20 Seoul Summit “the first test”
Formation of a Comprehensive Action Plan true measure of whether lessons of crisis have been learned
Canada’s Carney pushes for change in global monetary order
Bank of Canada governor warns international monetary system “an increasingly unstable hybrid of fixed and floating regimes”; cites role of G20 as premier forum for economic cooperation
International bodies fulfil G20 recommendation on information gaps
European Central Bank, Bank for International Settlements and IMF publish second part of Securities Statistics Handbook to address information gaps
Canada throws weight behind Basel III, lauding output gains
Bank of Canada says forthcoming capital and liquidity ratios will save the country nearly C$200 billion; stresses that Canada must not rest on laurels, not having experienced banking crisis
RBA’s Stevens: Economic downturn will have long lasting implications
Reserve Bank of Australia governor Glenn Stevens says financial crisis will have longer lasting impacts to advanced economies
Volcker philosophical on weakened rule, reform bill
Former Fed chairman Paul Volcker says failure to include dollar limit on banks’ positions in hedge funds “disappointing”, but accepts need for political compromise
France's Noyer says OTC markets need revamp
Banque de France governor Christian Noyer says new reforms on over-the-counter derivatives will make market more resilient
Monetary policy analysis and forecasting in the G20
Paper published by the IMF develops model featuring extensive linkages between real and financial sectors
US must clarify degree of Basel III implementation: Bini Smaghi
ECB executive board member Lorenzo Bini Smaghi says US needs to clarify its implementation of Basel III proposals
Europe raring to go on CDS rules, bank taxes
Brussels praises the political dynamic behind move for tightened financial regulation as French president Nicolas Sarkozy and German chancellor Angela Merkel call on Commission to speed up work
G20 ditches controversial global bank tax
Finance ministers splinter on international banking levy, complicating individual countries’ promises to adopt a tax; group unites in call for Basel III to be completed by year-end