The Group of 20 has directed the Financial Stability Board to implement its vows to strengthen the global financial structure and prevent crises. The FSB is looking at efforts including bankruptcy resolution, capital buffers, tougher oversight and taxes on some assets or transactions. The FSB is poised to present its proposals at a November G-20 summit in South Korea. Mario Draghi, head of the FSB, recently said that systemically important banks need higher capital buffers than those set in Basel III, including "bail-in" debt and possible convertible capital.
Published in Brief: