France and Germany urged the Group of Twenty more to reach an agreement of international financial regulation.

<P> French President Nicolas Sarkozy and German Chancellor Angela Merkel sent a letter 21, Canadian Prime Minister Stephen Harper called the Group of Twenty summit in Toronto on international financial regulatory measures to achieve more global agreement. .</ P> <P> Nicolas Sarkozy and Angela Merkel said that France and Germany on a global scale in favor of levying tax on banks and financial transactions tax to ensure fair competition in the financial industry to prevent the financial system risks and enhance crisis management. .They hope to reach agreement on the Toronto summit. .</ P> <P> two leaders believe that the need to strengthen bank liquidity and capital adequacy ratio, to ward off possible financial risks. .The situation to ensure the transparency of bank assets, the bank regulators should stress test their results made public. .They said the EU at the latest will be announced in late July this year, the banking sector stress testing results in order to calm the market for health of European banks suspicion. .</ P> <P> Nicolas Sarkozy and Angela Merkel said they would promote the Toronto summit to take strict control of financial derivatives instruments, such as transaction information required to report all transactions, all transactions in the framework of regulating the market or .electronic form, clearing organizations and settlement of transactions. .They called on the parties to coordinate their positions, credit default swap market should bring the financial risks. .</ P> <P>, they say, twenty leaders of the Group should continue to crack down on "tax havens", the fight against corruption, money laundering and the financing of terrorism and other criminal activities, punishable violation of the rules of the international financial prudent behavior. .They stressed that since the Group of Twenty summit in London since 2009, the international number to reach an agreement to share tax information, and now need to implement these agreements. .French and German Economic Cooperation and Development invited the States to inspect the implementation of the agreement and announce the results. .</ P> <P> Nicolas Sarkozy and Angela Merkel said that the financial stability of the Council's survey shows that Member States impose tax on banking bonuses different action undermines fair competition in the world's financial industry. .To this end, they called for the Council to impose financial stability, the banking industry to develop guidance standards for tax money to facilitate the implementation of national unity. .</ P> <P> two leaders also called for strengthening international credit rating industry regulation and standards. .They believe that this industry is the lack of competition, the Group of Twenty International Organization of Securities Commissions should be required to take measures to introduce competition. .In addition, practitioners in the international credit rating industry should be increased in the rating criteria should be considered the result of public methods and the possible impact on the market and other related terms. .</ P ><!-- end_ct ->.