European Union leaders have agreed to more steps to avert a repeat of the banking crisis.
The leaders on Friday backed the creation of a European system of financial supervisors, but gave them only limited powers.
A deal was reached only after late-night talks between Britain, Germany and France addressed concerns in London and elsewhere that the new pan-EU bodies could undermine the powers of national regulators.
The agreement, outlined in a draft summit declaration obtained by the Reuters news agency, followed US President Barack Obama's announcement on Wednesday of what he said was the biggest reform of US financial supervision since the 1930s.
The financial supervisory proposals involve creating three pan-European regulatory bodies next year to ensure countries introduce new rules on supervision, and a new European Systemic Risk Board that would monitor risks to financial stability.
Reacting to British concerns, a summit statement said any decisions taken by the new bodies "should not impinge in any way on the fiscal responsibilities of member states", for example, by forcing a costly bank bail-out.
