Q+A - How could a global levy on banks work?
ST ANDREWS, Scotland (Reuters) - Britain urged world governments on Saturday to consider a levy on banks to fund future bailouts, though there was little sign of the consensus needed to put the idea into practice.
HOW WOULD IT WORK?
Not clear. The International Monetary Fund will study the matter and present options next April for the Group of 20 nations to discuss.
Several ideas are being floated including a tax on financial transactions and a sort of "insurance fee" which banks would pay, perhaps into a global fund that would be tapped to help a bank in trouble.
The IMF has said banks could likely find ways around a transaction tax, and that a "windfall tax" or other longer-term form of levy might be better.
IMF managing director Dominique Strauss-Kahn told Reuters on Sunday that his organisation was exploring the idea of an insurance fee.
WHAT SIZE OF LEVY WOULD BE IMPOSED? Continued...
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