"Today's agreement begins to crack down on the cowboys in financial markets that have brought global markets undone," Australian Prime Minister Kevin Rudd said.
Some economists said the new IMF funds masked the fact that there was no agreement for more fiscal stimulus actions by individual countries, something the United States, UK and Japan wanted but France and Germany strongly resisted.
In the United States, the Financial Accounting Standards Board voted to give banks more flexibility in valuing toxic assets. The changes, to take effect in the second quarter, could reduce writedowns and soften blows to bank earnings.
But the news on the unemployment front continued to worsen.
The number of U.S. workers filing new claims for jobless benefits rose to their highest level in more than 26 years last week.
Data released in Spain showed the number of people claiming jobless benefits climbed steeply in March and at a much higher rate than larger European economies. Euro zone unemployment jumped more than expected in February to 8.5 percent.
As the ranks of the unemployed grow, so too do their debt loads.
A report by the American Bankers Association, which represents most large U.S. banks and credit card companies, said the percentage of consumer loans at least 30 days late rose to a seasonally adjusted 3.22 percent in the October-to-December period from 2.9 percent in the prior quarter.
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