There has been published a communique following the G20 Finance Ministers and Central Bank Governors meeting on 4-5 September 2015 in Ankara, Turkey. In the communique the Finance Ministers and Central Bank Governors state that they look forward to:
- the finalisation of the common international standard on total-loss-absorbing-capacity (TLAC) for global systemically important banks and robust higher loss absorbency requirements for global systemically important insurers by the G20 summit in Antalya; and
- the completion of the previously agreed work on the extension of the contractual recognition of temporary stays on early termination rights for over-the-counter (OTC) derivatives contracts to include other instruments and firms, excessive variability in risk-weighted asset calculations for bank capital ratios and the implementation of the G20 shadow banking roadmap.
The communique also mentions that work will be carried out to address legal barriers to the reporting of OTC derivatives contracts to trade repositories and to the cross-border access of authorities to trade repository data.
View Communique – G20 Finance Ministers and Central Bank Governors Meeting, 4-5 September 2015, 7 September 2015