The G20 leaders' summit and the regulation of global finance

This limited result highlights the enduring influence of these bodies in the politics of international financial regulation even in the face of a momentous crisis that has politicized financial politics to an unusual degree.2 When we look back in ten years time, the G20 meeting is less likely to be remembered for any of the single issues discussed at the table than for a gov- ernance reform: the w [...] Because the crisis highlighted the vulnerability of banks to ISSN 1915-8211 (Print) drastic changes in the liquidity available in the markets, the Basel Committee has also required banks to establish a liquidity risk management framework ISSN 1915-822X (Online) and to maintain cushions as a safeguard against protracted periods of The opinions expressed in this paper are those of the liquidity stre [...] In the aftermath of the Fellowship at the Centre for default of the US investment bank Lehman Brothers, both the total amount International Governance Innovation. [...] Reforming the Gatekeepers of Financial Markets: Credit Rating Agencies and Accountants In addition to the banking sector and credit derivatives, the FSF has focused on two actors that have been under the spotlight since the beginning of the crisis: credit rating agencies (CRAs) and accountants. [...] More generally, when prices have been extremely volatile and erratic in the mid- dle of the panic market, it has been difficult to justify the delegation to the market of the role of independent arbiter over the value of banks’ assets.