G20 Communiqué And Update On Financial Reforms

On September 4 and 5, 2015, the G20 Finance Ministers and Central Bank Governors issued a communiqué highlighting the actions required to achieve the goals of the G20 for this year. The group endorses the Organisation for Economic Cooperation and Development Principles on Corporate Governance, welcomes the progress made on the principles on SME financing and aims to finalize remaining elements of the global financial reform agenda this year. In addition, the OECD published a report prepared by the Financial Stability Board on corporate funding structures and incentives. The report sets out: (i) the growth and differences across countries and regions in nonfinancial corporate debt since the financial crisis; (ii) insights into the incentives that are influencing these trends; (iii) associated financial stability concerns; (iv) the role of macroprudential policies; and (v) potential action and next steps that could be taken, such as the use of macro-prudential tools to