IBFed writes to G20 Finance Ministers and OECD Secretary General on Automatic Exchange of Information (AEOI) – 09/01/14

The IBFed recognizes that the development of an Automatic Exchange of Information (AEOI) regime can be a significant means to achieve the policy objectives of the G20 in respect of tax evasion. We understand governments’ desire to implement an AEOI regime quickly. We believe that a consultative approach, such as that led by the Organisation for Economic Cooperation and Development (OECD), will be the most effective way to maximize the AEOI regime’s benefits and consider that the full benefits will not be realised without adequate consultation on the design and implementation of the AEOI regime.

Please read the full letter here.


IBFed writes to G20  - 19/10/11

IBFed wrote to a number of senior figures ahead of the G20 summit to be held in Cannes in November.
While welcoming the focus of the G20 on the reform of the financial markets and the ongoing commitment to delivering coordinated solutions, we urged the G20 leaders to identify their priorities and agree to the implementation of these in a coordinated, consistent and deliverable manner. We see the priorities as being the measures to: (1) identify the appropriate levels and quality of bank capital; (2) improve the quality and consistency of cross-border supervision; (3) deliver credible coordination with regard to the orderly resolution of financial institutions; and (4) enhance the resilience of financial markets.
The IBFed letter is available here.


Trade Association Letter on Legal Entity Identifier  - 12/09/11

IBFed has joined fourteen trade associations in writing to the G20 Finance Ministers to update them on the industry's contribution to the global effort to develop a uniform and global legal entity identifier (LEI). The associations are determined to continue to work closely with policy makers, regulators, supervisors and central banks to develop LEI, and we encouraged G20 finance ministers to support a coordinated global LEI solution. 

The trade association letter is available here.


IBFed writes to G20 in Seoul – 5/11/10 

IBFed has written to the Chair of the G20 Seoul summit in November, underlining our support for the leaders’ commitment to the regulatory reform agenda.  In the letter, IBFed urged the G20 to implement the new standards consistently to maintain a global level playing field and to avoid fragmentation, protectionism and regulatory arbitrage.  We highlighted the new regimes for capital and liquidity (Basel III), measures to enhance crisis management frameworks and the quality of supervision as key priorities.  We will continue to provide the FSB with advice and opinions.

The IBFed letter is available here.


IBFed writes to G20 Financial Ministers and Central Bank Governors -15/10/10 

IBFed has written to G20 Financial Ministers and Central Bank Governors prior to the G20 summit in November.  In the letter, IBFed expressed the need to commit to regulatory changes enhancing the stability of the financial system.  This letter also suggests further consideration to be given to certain changes to the prudential regime proposed by the Basel Committee, comments on the FSB’s regulatory recommendations for systemically important financial institutions (SIFIs) and endorses the Basel Committee’s statements on the FASB’s proposed model for financial instruments accounting.

The IBFed letter is available here.


News Release - IBFed response to G20 meeting in Toronto -28/06/10

Banking is an integral part of the modern global economy and fundamental to economic growth, employment and wealth creation.

The IBFed news release is available here.


IBFed writes to G20 in Toronto – 23/06/10

IBFed wrote to a number of senior figures ahead of the G20 summit in June, expressing support for the objectives of the G20 and the work of the international standard setters tasked with delivering an improved regulatory system.  In doing so, IBFed expressed its willingness to participate in the regulatory reform process aimed at increasing the resilience of financial institutions, enhancing the robustness of financial markets and reducing systemic risk.  IBFed also underlined the importance of open and transparent engagement with the industry as the reform process moves towards implementation.

Here is the IBFed letter.  Here is the contribution on Role of Markets and Regulation and here is the paper on Preliminary Consideration for a Macro-Prudential Supervisory Framework.


Banks worldwide move to rebuild financial stability -14/11/08

The International Banking Federation pledged its support to G20 leaders on the eve of their meetings in Washington to continue to cooperate in efforts to rebuild global financial stability.

IBFed news release is available here.


IBFed Press release Report provides valuable insight into financial turmoil -29/05/08

IBFed welcomed the publication of the report by the IOSCO Technical Committee's Taskforce on the Subprime Crisis.

The IBFed news release is available here.

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