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Old 08-12-2011, 04:18 AM   #1
Bruce0p9y
 
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PACE OF REFORM
The Pittsburgh summit will be the third since the Lehman collapse. Debates on details and timing for reform are growing heated. The Financial Stability Board (FSB), the G20's policy coordinating arm, last week cited "challenges in maintaining an appropriate balance and pace of regulatory reform."
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French bank Societe Generale on Monday rejected the U.S. proposal as a "crude and simple" idea.
Europeans say the focus should be on making the existing risk-based Basel II international bank capital accord work better and for all countries, including the United States.
There is a worry in Europe that adopting a leverage ratio that goes beyond being just a "backstop" to Basel II would undermine the Basel rules. There is still no consensus on how to define a leverage ratio or what assets should be included.
The G20 migh
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