The present financial crisis has created systemic risks which no economy can afford to take. Governments are responding to these extraordinary circumstances under the auspices of the G-20 to establish financial and regulatory reform.
Extraordinary circumstances call for extraordinary measures. Recent actions by governments and central banks in several key countries to reduce interest rates, help recapitalize major banks, and get credit flowing more normally again were necessary steps toward restoring confidence in the banking system, although they have not yet produced their full effect.
Promote financial stability and an effective regulatory and supervisory framework for financial markets; develop recommendations for governments and international organizations on international economic and financial policy, investment, and debt, U.S. monetary and exchange rate policies, and structural issues; provide a forum for the exchange of information and ideas on U.S. and international economic policy issues.
- Support WTO negotiations that include all aspects of financial services, emphasizing transparency of existing rules, regulatory reform and liberalization of barriers.
- Avoid financial and investment protectionism.
- Work to maximize ICC contributions promoting WTO financial services liberalization, including implementation of an active program informing governments of ICC positions on liberalization of financial services and insurance.
- Promote principles of good corporate governance in developing countries through work with ICC in the development of outreach seminars on corporate governance.
Economic and Financial Policy Working Group Chair
Stephen J. Canner
646-709-2481 or firstname.lastname@example.org
Policy & Program Assistant, Washington
202-617-3156 or email@example.com
- USCIB Letter to EU Commissioner Charlie McCreevy on European Commission’s plans for regulating credit rating agencies
- Spearheaded U.S. business participation in Corporate Governance seminars with government officials from Beijing, Istanbul and Sweden reaching participants from over 30 countries.
- Participated in BIAC consultations with Chair, OECD Economic Policy Committee, on the state and pace of global economic recovery.
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