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G20 agrees tougher financial regulations

G20 leaders on Friday endorsed tighter financial regulations, including bank capital and liquidity standards, to guard against what they called past excesses.

world Updated: Nov 12, 2010 13:20 IST

G20 leaders on Friday endorsed tighter financial regulations, including bank capital and liquidity standards, to guard against what they called past excesses.



The leaders of advanced and emerging economies, in a declaration after their Seoul summit, also backed measures to better regulate "systemically important financial institutions" -- those deemed too big to fail.



"This new framework...will ensure a more resilient financial system by reining in the past excesses of the financial sector and better serving the needs of our economies," their statement said.

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