There has been published the G20 Leaders’ communiqué following the Brisbane summit on 15-16 November 2014. Regulatory points in the communiqué include:
- the core commitments the G20 Leaders’ made in response to the 2008 financial crisis have been delivered. The task now is to finalise remaining elements of the policy framework and fully implement the agreed remaining financial regulatory reforms, while remaining alert to new risks;
- the G20 Leaders’ welcome the Financial Stability Board’s (FSB) proposal requiring global systemically important banks to hold additional loss absorbing capacity;
- progress has been made in delivering the shadow banking framework and the G20 Leaders’ endorse the FSB’s updated roadmap for further work; and
- regulatory authorities are called on to make further concrete progress in swiftly implementing the agreed G20 derivatives reforms. Jurisdictions are encouraged to defer to each other when it is justified, in line with the St Petersburg declaration.
View G20 Leaders’ communiqué – Brisbane summit, 15-16 November 2014, 16 November 2014