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A plea to G20 leaders about systemic risk

Joe Mont | March 2, 2017

The Systemic Risk Council has released a policy statement to the finance ministers, governors, chief financial regulators, and legislative committee leaders of the G20 countries. It expresses support for maintaining minimal international standards in global financial reform measures.

“This year will mark the tenth anniversary of the beginning, in early summer 2007, of what became the Great Financial Crisis,” an SRC statement says. “At a moment when efforts to complete vital, robust banking reforms in Basel seem to have stalled, when speculation swirls about the possibility of the U.S. repealing parts of the Dodd-Frank Act and when, in prospect, EU and U.K. financial policy could conceivably diverge for the first time since the collapse of the post-WWII Bretton Woods international monetary order, we…have decided to put on the record our view of...

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