The financial stability Board weighs in this sense

The strength of the system building banking international advance step by step. It should even take a little more time than expected. At the G20 in Toronto, the only decision that was taken was the recognition of a tool for this purpose: banking tax. Britain, the Germany and the France have already indicated that it would be implemented in. The American President, Barack Obama, called the US Congress to put in place a tax on the commitments to U.S. banks to 0.15 for a period of ten years, which would bring about $ 90 billion.

This tax is however that one of the instruments to avoid any risk of systemic crisis in the future. Its product feeds a specific insurance fund or is paid to the budget.

The other way is to compel banks to strengthen their capital to better cover the risks in financial markets, or even to "outdo" the cost of these activities. On this plan, the Basel Committee is working on the development of the so-called rules of Basel III. They more binding should be implemented before the end of 2012. The idea is now to finalize Basel III framework at the next Summit, in Seoul in November. In the meantime, the financial stability Board, chaired by Mario Draghi, will lead a study of macro-economic impact of these rules.

Implementation in 2012

The g-20 leaders agreed not to sacrifice the fragile economic recovery by "sanctioning" too banks that could reduce the amounts of credits to the economy. In addition, several countries have decided to implement banking tax. As a senior Bercy noted in Toronto, it should be modulating the own funds requirements the adoption or not of this tax. Clearly, a French, British or German bank will be less likely to own funds Basel III requirement that a rival institution established in a country not opted for this tax. The heads of State of the G20 therefore agreed to a less rapid implementation of the new supervisory framework Basel III stating that 2012 should mark the beginning rather than the deadline for its introduction. The financial stability Board weighs in this sense. "We recommend that the application of standards begins in 2012, with a period of transition which will depend on the current macro-economic impact study", Mario Draghi said in his letter addressed to heads of State of g-20. Basel III provides that deferred taxes will be taken more into account in the hard own funds of banks, which worries about the Japan. In Europe, the concern comes from the most restrictive eligibility criteria of the hybrid securities.

With regard to the agenda 2010 of the Council, the latter should present here in November of concrete recommendations to address the case of banks, because of their size, with a systemic risk failure. They may include special requirements in capital for the banks deemed too risky activities. The Council finally indicated that the recommendations of the g-20 for remuneration in the market halls are not sufficiently met and adds that it will conduct a new assessment of the record in the second quarter of 2011.