Meetings of G20 Finance Ministers and Central Bank Governors
FSB Chair provided an update to the G20 on progress toward correcting the fault lines that led to the global crisis and to build safer, more resilient sources of finance to serve better the needs of the real economy.
This letter summarises the progress to complete the programme of reform for the Brisbane summit, begins to look ahead to plans for implementation beyond Brisbane, and summarises the initial findings of the FSB review of representation.
FSB Chair reviews what remains to complete the core elements of reform, and then outlines the characteristics of financial supervision and regulation needed to realise fully the benefits of an open, integrated global financial system.
FSB Chair reports on progress in three key areas of reform to create a more resilient global financial system. They include implementation of the Basel III capital and liquidity requirements, implementation of reforms to resolution regimes and implementation of OTC derivatives reforms.
FSB Chair reviews the progress made in implementation of financial regulatory reforms, provides an assessment of the effect of the G20 financial regulatory programme on the availability of long term investment finance, and highlights FSB's priorities and work plans.