MONTREAL, Oct 26 (Reuters) – Bank of Canada Governor Mark Carney delivered a blunt rebuke to the global financial industry on Monday, saying it had shown insensitivity over high compensation and calling on it to get on board with reforms.
Financial Regulatory Forum
By Jan Dahinten and Neil Chatterjee
SINGAPORE, Oct 26 (Reuters) – European Central Bank Governing Council member Christian Noyer warned that banks are taking the same risks that led to the financial crisis and said they should preserve capital rather than pay it out to bankers and investors.His comments came as regulators around the world mull reforms to lower the risks that large banks can pose to the financial system and rein in the type of recklessness that fueled the credit crisis.
By Glenn Somerville and Toni Vorobyova
LONDON (Reuters) – G20 finance leaders pledged on Saturday to keep economic life-support packages in place until a recovery is firmly secured, but reached no deal on putting limits on bankers’ pay.
Finance ministers and central bankers meeting in London agreed fiscal and monetary policy would stay “expansionary” until recovery from the worst financial crisis since World War II was certain, a draft of their joint statement seen by Reuters showed.
BRUSSELS, Aug 5 (Reuters) – The European Commission approved on Wednesday a short-term export-credit insurance scheme adopted by the German government to limit the impact of the financial crisis on export companies. (more…)