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From: Haim R. Branisteanu1/30/2010 5:10:11 AM
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Bankers, Government Officials Discuss Regulation In Davos

By Marcus Walker
Of THE WALL STREET JOURNAL

DAVOS (Dow Jones)--Top bankers and senior government officials from major economies held informal private talks on regulation that participants called "constructive" but which produced little concrete result.

The meeting sought to build bridges between bankers and regulators after days of sometime acrimonious discussion in Davos about how much extra regulation should be imposed on banks following the financial crisis.

(This story and related background material will be available on The Wall Street Journal Web site, WSJ.com.)

Regular laughter emanated through the closed doors of the invitation-only meeting, suggesting the debate was less adversarial than in recent days.

But only one concrete proposal was discussed in depth, according to the chief executive of a major European bank: the idea of converting some of banks' debts into equity if their capital reserves are insufficient to cover writedowns, a proposal aimed at increasing banks' ability to absorb heavy losses.

Leading bankers including Joseph Ackermann of Deutsche Bank and officials from the U.K., France and China left the meeting quickly, making little comment other than that the talks were "constructive."

-By Marcus Walker, The Wall Street Journal; marcus.walker@dowjones.com; 49 303 151 7012
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