Financial Stability Board Report Demonstrates Global Regulatory Reforms Are Far From Complete

Forbes

The Financial Stability Board, an international body that monitors and makes recommendations about the global financial system, is calling for the Group of 20 (G20) leaders to support implementing post-financial crisis reforms and reinforcing global regulatory reforms.  While the Financial Stability Board’s (FSB) annual report,  Implementation and Effects of the G20 Financial Regulatory Reforms,  points out that bank and derivatives G20 reforms since the 2007-2008 financial crisis “make the financial system more resilient, and thereby reduce the likelihood, severity – and associated public cost – of future crises,” the FSB’s own exhibits show that significant gaps in timely adherence to new capital, liquidity, bank resolution, and derivatives rules remain across the twenty jurisdictions. Precisely because there are significant inconsistencies in the timing and the level of implementation of financial reforms, financial regulators and politicians should not be complacent with them. Read more

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