Financial Regulatory Forum

Cross-border resolution of troubled banks may be hard – U.S. Fed’s Tarullo

By Reuters Staff
September 30, 2009

Federal Reserve Board of Governors member Daniel Tarullo looks down during his testimony at the Senate Banking Committee on Capitol Hill in Washington,July 23, 2009. (file photo)      REUTERS/Larry Downing (UNITED STATES POLITICS BUSINESS IMAGES OF THE DAY) WASHINGTON, Sept 30 (Reuters) – A member of the U.S. Federal Reserve Board of Governors said on Wednesday it may be difficult to find international consensus on cross-border unwinding of troubled financial institutions.

International accounting board rejects U.S. “fair value” rule plans

By Reuters Staff
September 30, 2009

By Huw Jones
LONDON, Sept 30 (Reuters) – The top accounting rule setter said on Wednesday that U.S. plans to widen the scope of a rule blamed for amplifying the credit crunch was unacceptable, raising doubts over a 2011 deadline for a global set of accounting rules.

G20 faces credibility test on markets

By Reuters Staff
September 28, 2009

By Sumeet Desai and Chris Buckley
PITTSBURGH, Sept 26 (Reuters) – The Group of 20 rich and developing economies, fresh from a triumphant show of unity at Pittsburgh, faces months of deal-making and communication to markets that will test its credibility as the premier global forum for economic cooperation.

ANALYST VIEWS: G20 ends reign of G7 in Pittsburgh

By Reuters Staff
September 26, 2009

U.S. President Barack Obama leaves a news conference at the end of the G20 Summit in Pittsburgh, Pennsylvania September 25, 2009. REUTERS/Jim Young (UNITED STATES POLITICS BUSINESS) PITTSBURGH (Reuters) – Group of 20 leaders on Friday designated themselves as the new forum for steering the world economy, ending the long reign of the G7 as the preeminent committee for guiding global growth:

G20 economic peer review to start by year-end: Australian premier

By Reuters Staff
September 26, 2009

PITTSBURGH (Reuters) – The world’s major economies will begin sharing information about their growth plans by the end of 2009 as the G20 embarks on a novel process of peer review, Australian Prime Minister Kevin Rudd said on Friday.

G20 to agree phase-out of fossil fuel subsidies – draft

By Reuters Staff
September 25, 2009

An employee fills a car with petrol at a gas station in Jammu, India July 1, 2009. By Jeff Mason and Darren Ennis
PITTSBURGH, Sept 25 (Reuters) – The world’s largest economies will agree to phase out subsidies on oil and other carbon dioxide-spewing fossils fuels over the “medium term” in an effort to fight global warming, a G20 document said.

G20 takes charge of world economy at U.S. summit

September 25, 2009

From L-R, France's President Nicolas Sarkozy, U.S. President Barack Obama and Britain's Prime Minister Gordon Brown walk as they hold a news conference at the G20 Summit in the Pittsburgh Convention Center in Pittsburgh, Pennsylvania, September 25, 2009.  REUTERS/Jacques Witt/Pool    (UNITED STATES)   By Sumeet Desai and Chris Buckley
   PITTSBURGH, Sept 25 (Reuters) – The Group of 20 will become the forum for global economic management, giving rising powers such as China more clout, and roll out tougher rules on bank capital by the end of 2012, a draft communique said on Friday. (more…)

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. (more…)

G20 urges banks to muscle up on capital by 2012-draft

September 25, 2009

France's President Nicolas Sarkozy (L) and his wife Carla Bruni-Sarkozy (2nd R) stand with U.S. President Barack Obama and first lady Michelle Obama as they arrive at the Phipps Conservatory for an opening reception and working dinner for heads of delegation at the Pittsburgh G20 Summit in Pittsburgh, Pennsylvania, September 24, 2009.     REUTERS/Philippe Wojazer (UNITED STATES POLITICS BUSINESS) By Kevin Drawbaugh
PITTSBURGH, Sept 25 (Reuters) – Banks would have to bulk up on capital and slim down on bonuses under a conditioning plan recommended on Friday at the G20 summit by world leaders seeking to avert future financial crises.

G20 takes center stage in new economic world order

September 25, 2009

France's President Nicolas Sarkozy (L) and his wife Carla Bruni-Sarkozy (2nd R) stand with U.S. President Barack Obama and first lady Michelle Obama as they arrive at the Phipps Conservatory for an opening reception and working dinner for heads of delegation at the Pittsburgh G20 Summit in Pittsburgh, Pennsylvania, September 24, 2009.     REUTERS/Philippe Wojazer (UNITED STATES POLITICS BUSINESS IMAGES OF THE DAY)   By Emily Kaiser and Darren Ennis
   PITTSBURGH, Sept 25 (Reuters) – The Group of 20 rich and developing countries were set to anoint themselves as caretakers of the global economy on Friday, giving rising stars such as China and India more say in world affairs. (more…)