“An international financial board wants regulators to do more to end the risks posed by financial institutions that are ‘too big to fail.’
“In a report published ahead of this week’s Group of 20 conference in St. Petersburg, Russia, the Financial Stability Board (FSB) laid out a list of recommendations for nations to mitigate the potential hazards from the major financial institutions.
“’While much has been accomplished, more needs to be done – in particular putting in place the internationally agreed policies at the jurisdictional level – through legislation and regulation, where necessary, and through practical application to individual institutions,’ the board said in the report.
“Since 2009, the FSB has developed and recommended policies for regulators and lawmakers to make sure financial systems would be able to recover from failures of ‘systematically important’ institutions.”
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