G20 London Declaration on further steps to strenghten the financial system, 4-5 September 2009

Sectors : Economic governance and public finance management, International partnerships and support for Pan-African institutions, Financial Institutions, markets, services and microfinance, Regional trade, Transparency and accountability
Organisation : G20
Date made: 
2009
Level: 
Ministerial
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Commitments in: Governance - Transparency and accountability

“We, the G20 Finance Ministers and Central Bank Governors, reaffirmed our commitment to strengthen the financial system to prevent the build-up of excessive risk and future crises and support sustainable growth. We have made substantial progress in delivering our ambitious plan, which will ensure a robust and comprehensive framework for global regulation and oversight. The Financial Stability Board and the Global Forum on Transparency and Exchange of Information have expanded their mandate and membership. The regulatory bodies have agreed to more stringent capital requirements for risky trading activities, off-balance sheet items, and securitised products; they have developed proposals to address procyclicality, issued important principles on compensation and deposit insurance, and established over thirty supervisory colleges…”

Scope: 
International