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FSB Statement: Financial Stability Board reports to G20 on progress in implementing global financial reforms

( February 19, 2011, 16:06 GMT | Official Statement) -- MLex Summary: Rules for "systemically important" firms will be adjusted to reflect factors apart from size, said the global coordinating body for financial regulation. Authorities also are weighing rules for "shadow banking," possibly focused on its interaction with regulated banks. Regulators are drafting standard formats and reporting requirements for derivatives, reviewing bank liquidity rules, and examining commodities, accounting, consumer protections, credit rating agencies plus trading technologies.The Financial Stability Board (FSB) has published a report http://www.financialstabilityboard.org/publications/r_110219.pdf to G20 Finance Ministers and Central Bank Governors meeting today in Paris. The report sets out the most recent progress in the implementation of the G20 recommendations for strengthening financial stability....

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