G-20 leaders support capital surcharge for major banks

10/16/2011 | Reuters · Wall Street Journal, The

A proposed capital surcharge on major banks received support from Group of 20 central bankers and finance ministers. The surcharge, from 1% to 2.5%, would be phased in starting in 2016, according to a communique released after a G-20 meeting. Sources said the Financial Stability Board will reveal a list of 50 systemically important financial institutions at next month's G-20 summit.

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Reuters · Wall Street Journal, The

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