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G20 reach agreement - but is it enough?

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:
http://news.bbc.co.uk/1/hi/business/7979483.stm

Also see IBM's viewpoint on Systemic Risk - posted today:
https://www.finextra.com/blogs/fullblog.aspx?blogid=2738

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Comments: (1)

A Finextra member
A Finextra member 06 April, 2009, 14:27Be the first to give this comment the thumbs up 0 likes

Hi Bill, I'd like to read your systemic risk piece but the link isn't working that you've given - thanks. Sally.

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