NIIGATA, Japan : Finance ministers and central banks from the Group of Seven rich nations agreed the global financial system is resilient but the need for vigilance remains, Japan's finance minister Shunichi Suzuki said on Saturday.
"We reaffirm that our financial system is resilient, supported by the financial regulatory reforms implemented after the 2008 global financial crisis, including considerable increases in the levels of bank capital and liquidity, an international framework for effectively resolving failing institutions, and strengthened cross-border regulatory and supervisory cooperation," it said.
He said Britain believed the regulatory structures worked as intended and prevented much worse problems, but there were clearly lessons to be learned, including how digital transfers had accelerated the rapid pace of deposit withdrawals. But he said Britain was reviewing the legal and regulatory structures to ensure that people had access to their deposits as quickly as possible during any future incidents.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China, Russia loom large over G-7 Finance Ministers Niigata meetingNIIGATA, Japan – The finance chiefs of the Group of Seven (G-7) bloc of wealthy industrialised nations will discuss on Friday ways to beef up resilience in supply chains, so that developing countries can wean off their reliance on China for critical products. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
BOJ's Ueda: G7 finance chiefs to debate financial system risksNIIGATA, Japan : Calm has returned to the global financial system after the recent failure of several U.S. banks, but Group of Seven (G7) finance leaders will communicate closely to respond to any renewed instability, Bank of Japan (BOJ) Governor Kazuo Ueda said on Thursday.Ueda also said there was no ser
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
G7 finance chiefs agree on scheme to diversify global supply chain - draft communiqueNIIGATA, Japan : Finance leaders of the Group of Seven (G7) advanced economies agreed to create a scheme to diversify global supply chains that will 'contribute to safeguarding energy security,' according to a final draft of their communique seen by Reuters.The G7 finance chiefs also called for the need t
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Exclusive: G7 finance chiefs agree on scheme to diversify supply chain - draft communiqueFinance leaders of the Group of Seven (G7) advanced economies agreed to launch by the end of this year a scheme to diversify global supply chains that will 'contribute to safeguarding energy security,' according to a final draft of their communique seen by Reuters.The G7 finance chiefs also called for the
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »