IMF releases report on initial lessons of the financial crisis

The IMF has issued a paper for the G-20 on initial lessons of the market turmoil

LONDON - The International Monetary Forum (IMF) has released a report on the initial lessons of the financial crisis in response to a request by the International Monetary and Financial Committee and the G-20 leaders.

Three companion papers were also issued by the IMF, providing detail on liquidity management, macroeconomic policy and global architecture, with an overall emphasis on preventative measures.

The main paper outlines several principles for a future regulatory blueprint: the system of national regulatory jurisdictions must be expanded; market discipline should be strengthened; pro-cyclicality in regulation and accounting should be minimised; gaps in disclosure should be eliminated; and central banks should strengthen liquidity risk provisions to prevent systemic risk.

Read the main IMF report here; the liquidity management paper here; the macroeconomic policy paper here; and the global architecture paper here.