EU leaders met before the G20 Pittsburgh summit. They agreed G20 should take several urgent actions. For financial services, these are to:  

  • quickly commit to a globally coordinated system of macroprudential supervision for financial institutions;  
  • restructure the banking sector while improving bank balance sheets;  
  • get all G20 countries to adopt an improved Basel II framework;  
  • hurry along global accounting standards;  
  • strengthen oversight of systemically important financial institutions;  
  • implement fully the London Summit approach to non-cooperative jurisdictions; and  
  • fulfil the London commitments on remuneration structures, based on agreed principles.