International effort required for reform


Washington DC - International bodies and national regulators are all busily issuing recommendations or announcing longer-term initiatives to plug gaps in the financial regulatory system in an effort to ensure economic stability. The latest is a set of 22 - four core and 18 specific recommendations - outlined by the Group of Thirty (G-30), an international association of private and central bankers, in its Financial Reform: A Framework for Financial Stability. The paper is known as the 'Volcker R

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