They stressed the need to strengthen financial stability after the recent banking sector turmoil, adding that their governments “stand ready to take appropriate action”.
Three regional US banks have collapsed since early March, sparking panic among customers and causing turmoil in stocks of mid-sized institutions.
Pledging to “address data, supervisory and regulatory gaps in the banking system”, the finance chiefs nevertheless insisted that “our financial system is resilient”.
The finance ministers of Brazil, India and Indonesia, as well as the heads of the IMF, OECD and the World Bank, participated in the Niigata talks.
The discussions were partly overshadowed by the US debt ceiling impasse, as the world’s largest economy faces its first-ever default.
The Congress budget office said on Friday that the country could run out of money to pay its fiscal obligations by June 15 if lawmakers do not agree on a deal to raise the current cap on government spending.