G20 inches forward on financial reform
In their Communique, the G20 leaders will for the first time make an explicit commitment to agree new minimum levels of capital for banks in time for the next Summit in Seoul in November.
UK officials say there will be no precise figure until then, but the statement will pledge that the capital buffer that banks are required to hold against future losses will be high enough to have prevented any major bank from needing government support in the financial crisis of 2007-9.
It doesn't sound like much. But it does set limits on where this immensely complicated financial reform effort can end up. There will be a similar commitment to raise bank liquidity standards, and set overall limits on leverage, or borrowing.
As expected, they have not agreed a timetable for introducing the new regulations. There will also be considerable debate on the details - not least, which liabilities will count as capital, and how liquidity is going to be measured.
As Robert Peston has written previously, many Continental European governments are worried about the economic effects of phasing in the new capital requirements too quickly, because European banks come into this with lower levels of capital than their American counterparts.
That debate has not been resolved here - and may yet continue after the Korean Summit in November.