August 29, 2013
MOSCOW - While global economy remains at risk, (click here) Moscow intends to ensure sustainable, inclusive growth as a common goal for the Group of Twenty (G20), President Vladimir Putin said Wednesday.
"Russian G20 Presidency is on the verge of entering its most important stage, which is the leaders' summit to be convened on September 5-6 in St. Petersburg," Putin said in his address published on the Kremlin website.
Putin expressed his hope that G20 could find a joint solution for capital markets' development on global and national levels, strengthen multilateral trade and energy markets stability, as well as fight corruption.
According to Putin, during this year the G20 made progress in implementing the framework for strong, sustainable and balanced growth, job creation, the international financial system reform, and strengthening of the multilateral trade.
"The G20-drafted joint Action Plan on Base Erosion and Profit Shifting can be by all means considered the most prominent step towards modernization and coordination of our countries'tax policies in 100 years," Putin said....
Why is J P Morgan moving to London? One guess. It doesn't want to comply with USA Regulations. That is not a new decision. "Libor" (BBA Libor - British Bankers Association London Interbank Offered Rates) is there, too. The Libor was manipulated for the benefit of the banks in recent years.
Regulators agree on GLOBAL SWAP Rules ahead of G20 Summit (click here)
WASHINGTON
MOSCOW - While global economy remains at risk, (click here) Moscow intends to ensure sustainable, inclusive growth as a common goal for the Group of Twenty (G20), President Vladimir Putin said Wednesday.
"Russian G20 Presidency is on the verge of entering its most important stage, which is the leaders' summit to be convened on September 5-6 in St. Petersburg," Putin said in his address published on the Kremlin website.
Putin expressed his hope that G20 could find a joint solution for capital markets' development on global and national levels, strengthen multilateral trade and energy markets stability, as well as fight corruption.
According to Putin, during this year the G20 made progress in implementing the framework for strong, sustainable and balanced growth, job creation, the international financial system reform, and strengthening of the multilateral trade.
"The G20-drafted joint Action Plan on Base Erosion and Profit Shifting can be by all means considered the most prominent step towards modernization and coordination of our countries'tax policies in 100 years," Putin said....
Why is J P Morgan moving to London? One guess. It doesn't want to comply with USA Regulations. That is not a new decision. "Libor" (BBA Libor - British Bankers Association London Interbank Offered Rates) is there, too. The Libor was manipulated for the benefit of the banks in recent years.
Regulators agree on GLOBAL SWAP Rules ahead of G20 Summit (click here)
WASHINGTON
(
The high-level agreement comes ahead of a G20 summit next week in St Petersburg, Russia, where world leaders will discuss progress they have made to tighten the rules for banks and prevent a repeat of the devastating crisis.
While much progress toward the global reform agenda had been made, other points still needed to be sorted out, regulators from around the world said in a statement.
"The resolution of the unresolved issues is important," the group of supervisory agencies said in a report that was disseminated by the (CFTC) U.S. Commodity Futures Trading Commission, the country's top derivatives regulator.
Diverging views on how to rein in the banks that dominate derivatives trading caused a trans-Atlantic rift last year between Gary Gensler, head of the CFTC, and politicians and regulators in Europe and elsewhere.
But in July, the CFTC reached an agreement with the European Union that allowed foreign branches of banks to comply with local rules, as long as they are compatible with the rules their parent organizations must obey at home....
The high-level agreement comes ahead of a G20 summit next week in St Petersburg, Russia, where world leaders will discuss progress they have made to tighten the rules for banks and prevent a repeat of the devastating crisis.
While much progress toward the global reform agenda had been made, other points still needed to be sorted out, regulators from around the world said in a statement.
"The resolution of the unresolved issues is important," the group of supervisory agencies said in a report that was disseminated by the (CFTC) U.S. Commodity Futures Trading Commission, the country's top derivatives regulator.
Diverging views on how to rein in the banks that dominate derivatives trading caused a trans-Atlantic rift last year between Gary Gensler, head of the CFTC, and politicians and regulators in Europe and elsewhere.
But in July, the CFTC reached an agreement with the European Union that allowed foreign branches of banks to comply with local rules, as long as they are compatible with the rules their parent organizations must obey at home....
