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  • Financial Stability Board: Policy Measures To Address Systemically Important Financial Institutions

    Date 05/11/2011

    • At recent Summits, G20 Leaders asked the FSB to develop a policy framework to address the systemic and moral hazard risks associated with systemically important financial institutions (SIFIs).
    • In Seoul last year, G20 Leaders endorsed this framework and the timelines and processes for its implementation. The development of the critical policy measures that form the parts of this framework has now been completed. Implementation of these measures will begin from 2012. Full implementation is targeted for 2019.
    • SIFIs are financial institutions whose distress or disorderly failure, because of their size, complexity and systemic   interconnectedness, would cause significant disruption to the wider financial system and economic activity. To avoid this outcome, authorities have all too frequently had no choice but to forestall the failure of such institutions through public solvency support. As underscored by this crisis, this has deleterious consequences for private incentives and for public finances.

  • Financial Stability Board Reports To G20 Leaders On Progress In Implementing Financial Regulatory Reforms

    Date 05/11/2011

    The Chairman of the Financial Stability Board (FSB) reported to the G20 Leaders today atthe Cannes Summit on progress in the implementation of the G20 recommendations on financial regulatory reforms. Prior to the meeting the Chair set out in a letter a number of issues in this regard.

  • MF Global: Exchange Clearing House Liquidations Website Statement

    Date 05/11/2011

    Based on information received from the following exchanges and clearing houses, open trades and positions of MF Global UK Limited  (in special administration) have been liquidated, with effect from the corresponding date listed. Accordingly, all open trades and positions with clients of MF Global UK Limited (in special administration) relating to products traded on these exchanges and clearing houses have been closed with effect from the corresponding date listed, and notifications are being sent to those clients that are affected.

  • U.S. Clearing Houses Announce MF Global Bulk Transferee Confirmation Service

    Date 05/11/2011

    As part of the bulk transfer process for MF Global customer accounts and collateral held at U.S. derivatives clearinghouses, CME Clearing, ICE Clear US, The Clearing Corporation, KCBOT Clearing Corp., MGEX, NYSE Liffe US and The Options Clearing Corporation have coordinated to provide clients with further information on the status of their account transfers.

  • Transcript Of A Press Briefing With IMF Managing Director Christine Lagarde

    Date 04/11/2011

    MS. LAGARDE: Good afternoon. Bon jour. Hope you had a good time and enjoyed the weather.

    What I thought I would do is give you just a quick snapshot of what is my takeaway from Cannes and then if you have questions that you'd like to ask me, if there are issues that you'd like clarification on or points that you want to underline, I'll be very happy to take a few questions and then the leave the floor and the podium to somebody else.