ZURICH Jan 28 Reforms pledged by world leaders four years ago to make the financial system safer are still far from being completed, Mark Carney, chairman of the Financial Stability Board (FSB)said on Monday.
At the height of the 2007-09 financial crisis the Group of 20 (G20) economies agreed to sweeping reforms to make derivatives markets more transparent and put in place mechanisms for winding down big banks without taxpayer aid.
"More needs to be done," Carney told a news conference after a meeting of the FSB in Zurich.
The FSB has been tasked by the G20 to coordinate a string of regulatory reforms that plug supervisory holes uncovered by the financial crisis that forced governments to bail out many banks.
Carney is also governor of the Bank of Canada and will take the top job at the Bank of England in July.