Some of the G-20's New Rules

The G-7 is out. Its irrelevant. The G-20 is in. Rapidly developing nations have had economic but little political power under the G-7 contingency.
This group of 20 are quickly moving to work to make the economy work. Over the course of the G-20 summit in Pittsburgh the group came to a series of agreements including:

1. The countries will require higher levels of capital at banks and financial institutions, so as to give these institutions a buffer against unexpected losses that occur after making risky moves.
2. The Group of 20 will outline a long set of principles for tougher rules. The governments have pledged to develop this set of regulations by the end of 2010.
3. It was decided that bonus caps would be set in place for financial executives. The caps would defer the payout of bonuses for several years. It is hoped that the deferred payout would reduce the incentive for financial institutions to take short-term gambles. Countries are free to impose tougher restrictions as they see fit.
4. It was agreed that the nations would revive talks to reach a new global trade agreement by the end of 2010. For one, the talks could lead to a reduction in barriers to agricultural exports.