Andreas Dombret: Back home – making the G20 Summit commitments work
15 November 2011
Speech by Dr Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank, at the 14th Euro Finance Week in Frankfurt on 15 November 2011.
Mr Dombret focused in his speech on three key areas where consistent implementation is most critical:
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addressing the risks posed by systemically important financial institutions (SIFIs);
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strengthening oversight and regulation of the shadow banking system; and
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putting into effect the new capital and liquidity standards for banks, known as Basel III.
He summarised that:
The cornerstones for making the financial system more resilient are now in place. Nevertheless, much remains to be done. It is required to put commitments into practice and translate the agreed reforms into national laws and regulations. In particular, there is need
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to ensure that all financial institutions can be resolved without destabilising the financial system;
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to illuminate better the shadow banking system and put in place regulatory measures where necessary; and
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to implement the new Basel framework consistently across jurisdictions.
Full speech
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