AFP, Cairns :
The G20 nations said Sunday they were working on a plan to “increase consistency” in how banks apply capital rules meant to protect the global economy after the financial crisis.
The group of 20 of the world’s biggest economies said the proposal was set in motion for their Brisbane leaders’ summit in November and would further strengthen existing financial regulatory reforms.
“Work is underway on a plan that will increase consistency in banks’ application of the strengthened Basel III rules on capital,” finance ministers and central bankers said in a communique after a weekend meeting in Cairns.
