Financial Regulatory Forum

EU leaders at G20 to seek bonus curbs, retained stimulus

Romania's President Traian Basescu (L) is welcomed by Sweden 's Prime Minister Fredrik Reinfeldt  at an informal summit of European Union heads of state and government in Brussels September 17, 2009. EU leaders met to coordinate the EU's position ahead of the G20 Summit in Pittsburgh.   REUTERS/Yves Herman 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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Obama to reassure G20 on Wall Street reform-aide

U.S. President Barack Obama speaks at the White House in Washington June 17, 2009. Obama laid out his vision for reshaping U.S. financial regulation on Wednesday, aiming to tighten oversight of large firms whose excessive risk-taking triggered a global economic slump. REUTERS/Kevin Lamarque (UNITED STATES POLITICS BUSINESS)   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…)

EU should tackle bonuses alone if necessary-Juncker

Luxembourg Prime Minister Jean-Claude Junker addresses the Tamedia AG Dolder meeting 2008 in Zurich January 29, 2008.  REUTERS/Christian Hartmann  (SWITZERLAND)    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…)

EU to support stimulus, push on trade talks at G20

Jean-Pierre Jouyet, head of French market watchdog AMF, is seen in this file photo taken May 18, 2007. REUTERS/Benoit Tessier (FRANCE) 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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EU joins U.S. call for more oil market transparency

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…)

Sarkozy, Obama agree to work for G20 success

U.S. President Barack Obama (R) speaks with France's President Nicolas Sarkozy before a dinner at the G8 summit in L'Aquila, Italy, July 9, 2009. Leaders of the Group of Eight major industrial nations and the main developing economies are meeting in the central Italian city of L'Aquila until Friday to discuss issues ranging from global economic stimulus to climate change and oil prices. REUTERS/Stefano Rellandini (ITALY POLITICS)   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…)

G20 heads for crackdown on bank bonuses

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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Major central banks, regulators working on exit strategy system – official

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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Obama warns Wall Street to get behind reforms

By Caren BohanOnlookers gather outside the historic Federal Hall where U.S. President Barack Obama is speaking in the heart of Wall Street in New York September 14, 2009. Obama, marking a year since Lehman Brothers collapsed, urged financial firms Monday not to fight regulatory reform and urged Congress to pass his proposals by the end of the year.     REUTERS/Larry Downing (UNITED STATES BUSINESS POLITICS)

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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Sarkozy threatens G20 walkout if no bonus deal-paper

BRAZIL/    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…)

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