Financial Regulatory Forum

By Darren Ennis and Jan Strupczewski
BRUSSELS, Sept 17 (Reuters) – European Union leaders agreed on Thursday to seek curbs on bankers’ bonuses at next week’s G20 summit and said they wanted evidence the recession is over before they stop spending to prop up their economies.

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   By Caren Bohan
   WASHINGTON, Sept 16 (Reuters) – President Barack Obama will pledge U.S. action on financial regulatory reform at the Group of 20 summit in Pittsburgh and underscore the need for global coordination on the issue, a senior aide said on Wednesday. (more…)

    BERLIN, Sept 17 (Reuters) – The European Union must act alone if necessary to curb bankers’ bonuses, the chairman of the Eurogroup of euro zone finance ministers, Jean-Claude Juncker, told Deutschlandfunk radio on Thursday. (more…)

By Jan Strupczewski
BRUSSELS, Sept 16 (Reuters) – The European Union will support maintaining policies that poured trillions of dollars into economies and call on a G20 meeting for progress on trade talks to help boost a recovery, a draft policy document said.

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By Jan Strupczewski and Pete Harrison
BRUSSELS, Sept 16 (Reuters) – The European Union has joined the United States in calling for action to improve transparency in oil markets, a draft EU document shows. (more…)

   By Sophie Hardach
   PARIS, Sept 15 (Reuters) – U.S. President Barack Obama and French President Nicolas Sarkozy joined forces on Tuesday ahead of the Group of 20 summit in Pittsburgh, agreeing to work toward new decisions on the economy and the financial system, Sarkozy’s office said. (more…)

By Huw Jones and Anna Willard
PARIS, Sept 15 (Reuters) – Banks with low levels of capital will not be able to offer large bonuses under guidelines the G20 is set to discuss this month, the Financial Stability Board said on Tuesday.

“It’s important that firms conserve profits so they can rebuild capital and support lending,” FSB Chairman Mario Draghi told a news conference.

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PARIS, Sept 15 (Reuters) – Central bankers are working on a system to ensure they coordinate exit strategies to avoid any untoward consequences of removing stimulus at different times, a Financial Stability Board official said on Tuesday.

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By Caren Bohan

NEW YORK, Sept 14 (Reuters) – U.S. President Barack Obama warned financial firms on Monday to heed the lessons of Lehman Brothers’ collapse a year ago and get behind a regulatory overhaul he wants Congress to pass this year.
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    PARIS, Sept 14 (Reuters) – French President Nicolas Sarkozy has threatened to walk out of the summit of Group of 20 leaders in Pittsburgh next week if there is no agreement on bank bonuses, daily Le Figaro reported on Monday. (more…)