Downing Street Says » Meeting with Bankers

» Tuesday, March 24, 2009

Meeting with Bankers

Asked for a readout from the meeting, the Prime Minister s Spokesman told the assembled press that the meeting was just breaking up as he was leaving, so there was no readout just yet. As we had been saying, the meeting with bankers was part of the global discussion that the Prime Minister and the Chancellor were having ahead of the London Summit. We had been actively engaging with the financial sector and with business on the G20 agenda.

This morning s meeting brought together senior international bankers to discuss broadly, the reform of financial regulation and supervision including a discussion on risk management and remuneration, a rejection of financial isolationism and the restoration of lending. This was in line with the speech the Prime Minister gave at the FPA on the 26th January. Asked if the discussion on remuneration included bonuses, the PMS said that he had not had a readout yet, but he would be in a position to do so later. The Prime Minister had set out his views on remuneration including bonuses in the past on numerous occasions, with the emphasis on long-term value rather than short-term risk taking.

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