Financial Regulatory Forum

G20 final text has accord on banker bonuses

September 25, 2009

Pittsburgh Police Sgt. Lavonnie Bickerstaff stands in front of a G20 logo at the Multi-Agency Communications Center in PIttsburgh, Pennsylvania September 22, 2009. The MACC is the central point of communications for the agencies involved in the operational security efforts for the G20/Pittsburgh Summit.  REUTERS/Jason Cohn (UNITED STATES POLITICS BUSINESS)    PITTSBURGH, Sept 25 (Reuters) – The Group of 20 nations reached a final agreement on regulating banker bonuses that calls on countries’ regulators to apply corrective measures, such as higher capital requirements, on non-complying institutions, a European G20 source said on Friday.
   The final text of the agreement reached by the G20 at the two-day summit being held in Pittsburgh is good from the perspective of the European Union, the source said.
   The G20 final text also includes an agreement on rebalancing the global economy, with a strong emphasis on fiscal responsibility and structural reforms, the source said. (Reporting by Reuters G20 team; Editing by Leslie Adler) Keywords: G20/EU BANK 
  
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 Friday, 25 September 2009 17:30:10RTRS [nSUN000111] {EN}ENDS

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