Financial Services
Background
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.
Objective
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.
Current Priorities
· 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.
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Chair
TBA
Economic and Financial Policy Working Group
Chair
TBA
Staff Contacts
Shaun Donnelly
Vice President, Investment and Financial Services
(202) 682-1221 or sdonnelly@uscib.org
Stephen J. Canner
Senior Advisor
(646) 709-2481 or scanner@uscib.org
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