Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories


  • New report presented to G20 proposes four areas to boost growth and jobs
  • Warns the regulatory reform agenda has passed the tipping point, where financial safety is now being pursued at a social and economic cost
  • Proposals include measures to encourage insurers and long-term investors to lend to infrastructure and small businesses

A new KPMG report has called for the G20 to focus on the role the financial services industry can play creating jobs and stimulating economic growth.

G20 Must Help Financial Services Promote Jobs And Economic Growth, Says KPMG Report

G20 Must Help Financial Services Promote Jobs And Economic Growth, Says KPMG Report

The report, Brisbane G20 summit: A new agenda for financial services, highlights that growth strategies already agreed by G20, such as increasing investment in infrastructure, can be accelerated by the financial sector. For example adjusting the capital and liquidity rules on banks undertaking long term financing should boost investment.

The report also warns that the financial regulatory reform agenda has gone too far, resulting in unintended consequences. As a result of the reforms being implemented inconsistently across different jurisdictions, this has led to higher regulatory costs, greater uncertainty and reduced availability of financial products to help fuel economic growth.

The report was presented to the G20 heads of summit ahead of their meeting in Brisbane on the 16th and 17th November. It calls for

  • Re-evaluating the cost-benefit analysis of some regulatory reforms based on the evidence of their outcomes
  • Prioritising future reforms, and giving greater certainty on the timing for implementation
  • Agreeing to reduce inconsistencies between national regulations which add cost and slow growth

Jeremy Anderson, global head of financial services at KPMG, commented, “The G20 must decide whether to focus on dealing with the crisis of yesterday or on building growth and jobs for tomorrow. We need a new relationship between the financial services sector and regulators which delivers increased stability while stimulating economic growth.

“At the same time banks in particular, must intensify their efforts to introduce culture and behavioural change, so regulators can more comfortably step back. We must break out of this unproductive environment in which regulators believe they need to tackle everything because part of the sector cannot be trusted to play their part in improving standards.”

“We also still see too much evidence of localisation and inconsistent application of regulatory reforms across jurisdictions leading to higher costs and reduced availability of the financial services needed to promote recovery and growth.”

The report proposes four actions required to refine the agenda:

  • Reducing regulatory disincentives to encourage banks to lend to small businesses, infrastructure and trade finance – for example adjusting regulation to treat high quality securitisation of bank lending as covered bonds in capital and liquidity requirements.
  • Encourage insurers and other long-term investors to lend to infrastructure and small businesses – creating a regulatory regime and tax environment that encourages insurers to lend to long term capital projects.
  • Encourage asset managers to invest more in infrastructure – develop the framework for European Long-term Investment Funds (ELTIFs) to allow investment in long term illiquid assets such as infrastructure projects and real estate.
  • Develop new, dynamic, capital markets – other countries should apply lessons learned from the US to develop an equity culture, deeper and more liquid capital markets underpinned by regulatory and tax regimes which incentivise investment.

Jeremy Anderson concluded, “The discussions and decisions taking place in Brisbane have the potential to accelerate the global economic recovery by stimulating investment which in turn will create significant number of new jobs.

“We urge the G20 to help maximise the contribution of the financial services sector to the global economic recovery.”

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post