IMF-FSB report urges G-20 to make Basel III top priority, sources say:

04/21/2010 | Reuters

The International Monetary Fund and the Financial Stability Board plan to present to Group of 20 leaders a report about the financial crisis and how to prevent its recurrence. "The main message coming through this document from central banks and regulators is that priority No.1 is Basel III, while the practical study of a bank levy should come after the results from the study on the impact of Basel III," sources said. "The IMF and FSB fear that otherwise discussions on a bank levy could sap political momentum on Basel III."

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