G-7 to Work With World Trouble Spots

The Group of Seven leading industrialized nations, moving to identify and deal with global financial trouble spots before they flare up into crises, endorsed a plan at a meeting in Bonn that will bring together the world’s top financial market regulators twice a year to swap information. The panel, recommended by German central bank President Hans Tietmeyer, will be chaired by the general manager of the Bank for International Settlements, Andrew Crockett, and will include representatives from the International Monetary Fund, the World Bank, the BIS, national government representatives, central bank officials, and insurance and banking regulators.