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G7 finance chiefs to discuss code of conduct for bankers

Published 27/05/2015, 20:12
© Reuters. People watch balloons made by the 'ONE' campaigning organisation  depicting leaders of the countries members of the G7 in front of the Frauenkirche cathedral in Dresden

DRESDEN, Germany (Reuters) - Finance chiefs from the Group of Seven economic powers will discuss the idea of a code of conduct for bankers on Thursday, without committing themselves to any decisions, a German delegation source said.

The issue was debated by deputy finance ministers and central bankers on Wednesday ahead of a full meeting of G7 finance chiefs on Thursday and Friday in Dresden, Germany.

"For the first time we discussed the question 'do we need a code of conduct for bankers?'," said the German source, speaking on condition of anonymity.

Finance chiefs from the G7 countries -- the United States, Japan, Germany, Britain, France, Italy and Canada -- will weigh up the potential uses of such a code.

© Reuters. People watch balloons made by the 'ONE' campaigning organisation  depicting leaders of the countries members of the G7 in front of the Frauenkirche cathedral in Dresden

"But don't expect too much on this tomorrow because this is just a first take at addressing the issue, which (Bank of England Governor) Mark Carney will present and about which we will have a discussion," the source said, adding that there would be no decisions at Thursday's meeting.

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