According to the BBC - and who doesn't follow Peston these days .....
On behalf of the G20, Prime Minister Gordon Brown announced the following steps:
- Bankers' pay and bonuses will be subject to stricter controls
- A new Financial Stability Board will be set up to work with the IMF to ensure co-operation across borders and provide an early warning mechanism for the financial system
- There will be greater regulation of hedge funds and credit ratings agencies
- A common approach to cleaning up banks' toxic assets has been agreed
- The world's poorest countries will receive $100bn extra aid
- G20 countries are already implementing the biggest economic stimulus "the world has ever seen" - an injection of $5tn by the end of next year.
See BBC News:
Also see IBM's viewpoint on Systemic Risk - posted today: