The Group of Twenty, also known as the G20, is a group of Finance Ministers and Central Bank Governors representing the world’s largest economies and works for international cooperation in the area of international economic and financial issues. The G20 has been very supportive of the implementation of the enhanced capital standards for banking institutions issued by the Bank for International Settlement’s Basel Committee. After its meeting on June 18-19, 2012, in Los Cabos, Mexico, the Leaders of the G20 issued an ambitious set of recommendations that the group felt would strengthen the global economy, address tensions in the financial markets and promote job growth.1 One of the recommendations was to urge jurisdictions to finalize adoption of Basel II, Basel 2.5 and Basel III, standards which are all aimed at strengthening capital at banks on a global basis.
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