G7 statement on global financial market turmoil

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23 Sep 2008

The Group of Seven Finance Ministers and Central Bank Governors released the following statement on global financial market turmoil.

Among other things, the statement urged more effective regulation. The G7 said: "We remain committed to full and rapid implementation of the Financial Stability Forum (FSF) recommendations to enhance the resilience of the global financial system for the longer term. We look forward to the FSF report this fall on progress made in strengthening prudential supervision and regulation, improving firms' risk management practices, enhancing disclosure and transparency, and strengthening accounting frameworks." Click to Download the G7 Statement (PDF 85k). Here is the link to our complete Credit Crunch Page.


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