12/1/2009

Jean-Claude Trichet, president of the European Central Bank, discussed his role on the Basel Committee on Banking Supervision and changes to financial regulations that the committee is about to approve. Trichet said leaders from the Group of 20 nations have helped strengthen the Basel Committee. "Strengthening the governance of the Basel Committee was crucial to enhance the committee's ability to carry out its core mission of improving global supervisory practices and standards," Trichet said. "Its new governance is expected to also contribute to the effective implementation of reforms, including in major emerging countries."

Related Summaries