G-20 working groups release final reports
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LONDON - The G-20's working groups have issued their four final reports on aspects of transparency, regulation, international co-operation and the reform of the International Monetary Fund, World Bank and multilateral development banks.
The first report looks at sound regulation and strengthening transparency, and includes recommendations to address the causes and lessons of the financial crisis. These include calls for a system-wide approach to regulation and recommendations for the scope of regulation. Other chapters cover rating agencies oversight, private capital, transparency of regulatory regimes, pro-cyclicality, capital, liquidity, structures for over-the-counter derivatives, remuneration, accounting, transparency, enforcement and assistance for developing countries.
The second paper focuses on reinforcing international co-operation and promoting integrity in financial markets. It outlines intermediate and medium-term recommendations for action to strengthen supervisory and regulatory co-ordination, the role of international bodies, and the preservation of market integrity.
The third paper looks at the reform of the IMF: the adequacy of its resources, a review of lending instruments, greater representation for developing nations, and a review of the IMF mandate and reforms.
The fourth paper contains an action plan for reforming multinational development banks, with common principles for reform, crisis instruments, resources and capital adequacy, and governance reforms.
The reports may be downloaded from this page.
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