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US prepares to push for global capital rules

Posted By admin On April 26, 2010 @ 4:16 am In Featured Stories,World News | Comments Disabled

Tom Braithwaite
Financial Times [1]
Monday, April 26th, 2010

The US is preparing to pivot from domestic regulatory reform to a push for a tough new international capital regime after the weekend’s G20 and International Monetary Fund meetings glossed over differences between leading economies.

Tim Geithner, US Treasury secretary, met Mario Draghi, chairman of the Financial Stability Board, on Sunday to discuss the contours of a system that would decide the safety and profitability of banks for decades to come and could eclipse the arguments over bank taxes and regulation.

But the different positions of senior central bank and government officials from several countries expressed to the Financial Times on the sidelines of the G20 meetings in Washington suggested that a final international agreement remains a challenge.

The G20 communiqué on Friday said: “We recommitted to developing by end-2010 internationally agreed rules to improve both the quantity and quality of bank capital and to discourage excessive leverage.”

Full article here [1]

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URLs in this post:

[1] Financial Times : http://www.ft.com/cms/s/0/28959166-5082-11df-bc86-00144feab49a.html

[2] Image: http://infowars-shop.stores.yahoo.net/inemnewwoord.html

[3] Why New Bank Capital Rules Could Make Things Worse: http://www.prisonplanet.com/why-new-bank-capital-rules-could-make-things-worse.html

[4] Basel committee agrees new bank capital rules: http://www.prisonplanet.com/basel-committee-agrees-new-bank-capital-rules.html

[5] UN, Soros Push Global Tax To Fight Man-Made Climate Change: http://www.prisonplanet.com/un-soros-push-global-tax-to-fight-man-made-climate-change.html

[6] The New Push for a Global Currency: http://www.prisonplanet.com/the-new-push-for-a-global-currency.html

[7] ECB To Set “Fair” Cypriot Standard Of Living Via Capital Controls: http://www.prisonplanet.com/ecb-to-set-fair-cypriot-standard-of-living-via-capital-controls.html

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