IMF's Lipton Urges More Banking Clean-Up to Sustain Global Rally

Article source
Bloomberg News

The International Monetary Fund’s No. 2 official urged policy makers to clean up banks and strengthen oversight of their financial systems or risk stalling a recent rally in global markets.

With the world economy still subdued, further repair of banks’ balance sheets is necessary, which may require more capital for some lenders and closure for others, David Lipton, the fund’s first deputy managing director, said in a speech in Washington yesterday. He also called for unwinding of excessive public and private debt.

Click here to read full article.