G20 financial leaders meeting draws joint communique on financial reform (5)

16:19, June 06, 2010      

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"(Bank levy) will thus improve the healthiness of the foreign exchange market and also contribute to the general improvement of the current financial system," Yoon said in an e-mail interview with local media Korea Times.

Despite the failure of drawing detailed measures on bank levy, the G20 leaders came up with a larger-frame resolution, or a five- step principle, that will be a guideline for countries to consider when they devise ways to regulate the banking sector.

With the remaining challenge to harmonize the ongoing disputes on the bank levy issue, the Busan G20 meeting will be followed by the June 2010 Toronto Summit and the November 2010 Seoul Summit where more practical outcomes are expected.

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(Editor:黄蓓蓓)

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