For example, progress is being made by the Basel Committee on Banking Supervision (BCBS) towards a new regime for bank capital and liquidity standards, with the broad aim being to raise both the quantity and quality of capital, to be implemented by end-2012.
The Financial Stability Board (FSB) has devised a number of standards for sound compensation practices, and is cooperating with other relevant bodies to establish a single global accounting standard. Discussions under the G20 aegis are also ongoing in a number of other areas, including the expansion of the perimeter of regulation and supervision (e.g.