The post G-20 regulatory roadmap
G-20 leaders endorsed the introduction of the new banking capital accord, Basel III, at their first meeting held in Asia in November. Regulators will now turn their attention to too-big-to-fail institutions, the ‘shadow banking’ community and commodity derivatives, according to Chikahasi Sumi from the Financial Services Agency in Japan. Sumi also talks about the challenges that lie ahead for Japanese banks and his belief that OTC derivatives regulation is moving in the right direction*
Asia Risk: From a regulatory perspective, what are some of the key conclusions from the G-20 summit that was held in Seoul?
Chikahisa Sumi, deputy commissioner for international affairs and competitiveness at the Financial Services Agency in Japan: The G-20 leaders endorsed the Financial Stability Board’s (FSB) report on financial regulatory reform, and that is one of the most important achievements of the G-20. The FSB’s reports have been made public on the same day [as the summit] and that
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