Blog:G20 pledges tougher bank action
Posted by admin on September 28th, 2009 | 0 comments
Finance ministers from the world’s most powerful economies have agreed a series of measures to try to regulate the global banking system.
They want a system that rewards long-term performance rather than short-term risk-taking.
However the G20 meeting in London did not agree on specific limits on the amounts individual bankers get paid.
Britain, the US and Canada opposed the idea, but the Financial Stability Board is to examine the issue.
It will report back to the summit of G20 leaders in Pittsburgh, Pennsylvania later this month.
