G20 leaders agree to raise banking capital standards

The Group of 20 leaders of emerging and developed nations agreed to toughen capital requirements for banks to check excess risk that helped fuel the latest financial crisis.

The Group of 20 leaders of emerging and developed nations agreed to toughen capital requirements for banks to check excess risk that helped fuel the latest financial crisis.

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"We committed to act together to raise capital standards, to implement strong international compensation standards aimed at ending practices that lead to excessive risk-taking, to improve the over-the-counter derivatives market and to create more powerful tools to hold large global firms to account for the risks they take," they said in a statement at the end of a two-day summit.