WTO Chief Calls For Reform Of Global Banking Rules

Law360, New York (September 29, 2009, 3:55 PM EDT) -- The head of the World Trade Organization reportedly said Tuesday that international banking regulations must be reformed in order to aid the revival of the global economy, including a review of the Basel Accords on banking industry rule-making standards.

Speaking at the WTO's Public Forum, Director-General Pascal Lamy said the organization's financial stability board is already starting to re-examine global financial regulations, including the Basel rules, according to a report by Reuters.

“From what commercial banks tell us, the sort of risk rating as it appears...
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