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G20 countries agree on the need to regulate shadow banking sector -Siluanov

September 05, 2013, 23:13 UTC+3
“All of us have common understanding that things should be set in order in this field,” the Russian minister emphasized
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STRELNA, September 5 (Itar-Tass) - Russian Finance Minister Anton Siluanov told a briefing devoted to the first day of the G20 summit on Thursday that many speakers had spoken of the need to regulate parallel shadow banking.

“The finance ministers and the leaders of countries who stopped on that theme agreed with the need to regulate shadow banking,” Siluanov said.

“All of us have common understanding that things should be set in order in this field,” the Russian minister emphasized.

“Shadow banking transactions are not regulated. That leads to dubious operations and tax evasion. The Germany-proposed initiative to set things in order in this sphere has been welcomed and supported,” Siluanov said.

 

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