A look at the stories on HousingWire’s weekend desk…with more coverage to come on bigger issues.

The leaders of the Group of 20 nations wrapped up their summit in Pittsburgh, Penn with a statement on staying the course of current policies until the global economy has recovered:

“The conditions for a recovery of private demand are not yet fully in place. We cannot rest until the global economy is restored to full health, and hard-working families the world over can find decent jobs. We pledge today to sustain our strong policy response until a durable recovery is secured."

“We will act to ensure that when growth returns, jobs do too. We will avoid any premature withdrawal of stimulus. At the same time, we will prepare our exit strategies and, when the time is right, withdraw our extraordinary policy support in a cooperative and coordinated way, maintaining our commitment to fiscal responsibility.”

The statement also asserted that the development of the long-ignored and impoverished parts of the world is crucial to heal the global markets:

“Over four billion people remain undereducated, ill-equipped with capital and technology, and insufficiently integrated into the global economy. We need to work together to make the policy and institutional changes needed to accelerate the convergence of living standards and productivity in developing and emerging economies to the levels of the advanced economies. To start, we call on the World Bank to develop a new trust fund to support the new Food Security Initiative for low-income countries announced last summer."

Barclays Capital analysts reported in their weekly commercial mortgage-backed securities (CMBS) that the long rally of the CMBS market has tapered off. Analysts recommend select long positions despite the concerns of the near future, according the report, and that the rally of CMBX indexes is overdone.

In the Q209 Flow of Funds report, the commercial real estate (CRE) sector showed further deleveraging, according, according to the analysts. Researches expect the trend of widespread weakness across all lender types to continue in future quarters.

Barclays researchers also reported that that the deferred cease of the Federal Reserve Bank’s MBS purchases will relieve agency mortgages and the housing market.

Researchers prepare for weak data in housing prices at the end of 2009 but expect a recovery in prices in early 2010.

Standard & Poor’s released a statement late Friday in response to the “Accountability and Transparency in Rating Agencies Act,” introduced by Rep. Paul Kanjorksi, chairman of the House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

“These reforms include significant enhancements to our governance and transparency, as well as a substantial strengthening of our analytics. However, industry wide regulation is required to restore overall investor confidence in ratings,” the statement reads.

The reform should be written to enhance transparency and ratings performance, according to the statement.

“Reforms should also increase competition and not create new barriers to entry. S&P welcomes the opportunity to compete for investor interest in its ratings regardless of whether ratings are embedded in regulation rules for investors,” according to the statement.

Late Friday, the closing of Georgian Bank in Atlanta, Ga. marks the fall of the 95th bank in the country this year. The Georgia Department of Banking and Finance closed the five branches, which cost the Federal Deposit Insurance Corp. $892m.

FDIC said First Citizens Bank agreed to assume all of the $2bn in deposits of the failed bank and "essentially" all of its $2bn in assets. The FDIC entered into a loss-sharing transaction with First Financial Bank on purchase of the assets.

Write to Jon Prior.