IMF renews its call for bank levy and a revamp of global regulation

first_imgSunday 3 October 2010 11:10 pm THE International Monetary Fund has called for a new world system to dismantle troubled financial institutions and a levy on banks to pay for it.The IMF’s statement, released last night, comes ahead of meetings here this week among fund officials, the World Bank and leading nations’ finance officials. It urges better international regulatory cooperation and stronger supervision.Two years after the peak of the worst global financial crisis in generations, the IMF is seeking to keep momentum going for substantive cross-border financial reforms.“Although important steps have been taken like Basel III… much more remains to be done,” said Jose Vinals, a senior executive at the fund. “We need to work together.”The Basel III accord on bank capital standards was finalised weeks ago. Earlier this year, the US approved sweeping bank and Wall Street reforms. European nations have been moving along on reforms of their own.After massive taxpayer-financed bailouts in the last crisis, one of the toughest aspects of the two-year-old push for a regulatory overhaul has been finding a way to ensure that taxpayers don’t get stuck with the bill for the next crisis. KCS-content Tags: NULL Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Sharecenter_img IMF renews its call for bank levy and a revamp of global regulation Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp whatsapplast_img read more