Financial Regulatory Forum

ECB officials defend Basel as US plans replacement

September 4, 2009

Bank of France Governor Christian Noyer attends a conference organized by the Paris Club and Institute for International Finance (IIF) on the impact of the crisis on emerging and developing countries in Paris June 25, 2009.  REUTERS/Benoit Tessier LONDON, Sept 4 (Reuters) – European officials defended the globally-agreed Basel II capital rules for banks on Friday despite a U.S. call for its replacement with a sweeping new regime within three years.

No sense in G20 limiting bank size-German FinMin

September 4, 2009

German Finance Minister Peer Steinbrueck of the Social Democrats (SPD) (top) looks to Economy Minister Karl-Theodor zu Guttenberg of the Christian Democratic Union (CSU) at the weekly cabinet meeting in Berlin, September 2, 2009.   REUTERS/Fabrizio Bensch (GERMANY POLITICS IMAGES OF THE DAY)    BERLIN, Sept 4 (Reuters) – Germany opposes any plans by the Group of Twenty to limit the size of banks to avoid individual institutions wielding too much influence in future and posing a risk, Germany’s Finance Minister told a newspaper on Friday. (more…)

Japan’s Hatoyama welcomes G20 regulation debate

September 4, 2009

JAPAN-ELECTION/   By Tetsushi Kajimoto
   TOKYO, Sept 4 (Reuters) – Japan’s next leader, Yukio Hatoyama said on Friday the fact that the Group of 20 finance ministers meeting in London this weekend will discuss financial regulation was a sign the world is reflecting on the excesses of market fundamentalism. (more…)

UK, France, Germany urge G20 post-crisis plan, tougher regulation and tax measures

September 3, 2009

German Chancellor Angela Merkel (R) speaks with French President Nicolas Sarkozy and British Prime Minister Gordon Brown (C) at the start of a meeting in the Chancellery in Berlin, February 22, 2009. By Yann Le Guernigou
CALIGNY, France, Sept 3 (Reuters) – Britain, France and Germany called on the G20 on Thursday to discuss exiting measures implemented to tackle economic crisis, as well as limits on bank bonuses, at an upcoming summit in Pittsburgh.

G20 to keep stimulus, seek coordinated exit strategies

September 2, 2009

By Anna Willard
BRUSSELS, Sept 2 (Reuters) – G20 countries have agreed it is too soon to withdraw measures to end the global economic crisis and will discuss coordinating policy to wind up the trillions of dollars in support at talks in London this week.

EU ministers pledge to end banker bonus party

September 2, 2009

Sweden's Finance Minister Anders Borg addresses a news conference during an European Union finance ministers meeting in Brussels September 2, 2009.     REUTERS/Francois Lenoir By Anna Willard
BRUSSELS, Sept 2 (Reuters) – European finance ministers pledged on Wednesday to clamp down on banker bonuses, raising the prospect of spreading such payouts over years or demanding back money if business turns sour.

G20 must implement bank supervision measures – Saudi

September 2, 2009

Muhammad al-Jasser, governor of the Saudi Arabian Monetary Agency (SAMA), gestures during a news conference in Riyadh September 1, 2009. JEDDAH, Sept 2 (Reuters) – Group of 20 developed countries must stick to banking oversight regulations agreed in the wake of the global financial crisis to avoid a future credit crunch, Saudi Arabia’s central bank governor told the local press agency, citing concerns over backsliding.

ECB’s Noyer says leverage ratio makes no sense as trouble signal

September 1, 2009

BUENOS AIRES, Sept 1 (Reuters) – The idea of a simple leverage ratio to help anticipate financial crises is unlikely to work, European Central Bank governing council member Christian Noyer said on Tuesday.

INTERVIEW – France sees G20 shifting its way on financial regulation

September 1, 2009

France's Economy Minister Christine Lagarde is seen during an interview with Reuters at the Economy Ministry in Paris September 1, 2009.  REUTERS/Charles Platiau By Anna Willard
PARIS, Sept 1 (Reuters) – France is optimistic about upcoming G20 meetings because many leaders, including British Prime Minister Gordon Brown, have moved closer to the French position, Economy Minister Christine Lagarde said.

German minister urges G20 to soon reduce use of stimulus measures

August 31, 2009

German Finance Minister Peer Steinbrueck arrives to the weekly cabinet meeting in Berlin, August 5, 2009.  BERLIN, Aug. 31 (Reuters) German Finance Minister Peer Steinbrueck urged colleagues from other G20 nations as soon as possible to start reducing fiscal measures used to tackle the global financial crisis.